Fox Corporation (NASDAQ:FOXA) Stock Has Average Target Price of $78.12

Fox Corporation (NASDAQ:FOXA) has been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $76.94.

FOXA has been the subject of a number of analyst reports. Rothschild & Co Redburn upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Fox Advisors set a $85.00 target price on FOX in a research note on Friday, October 16th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of FOX in a research report on Wednesday, September 23rd. Finally, Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday.

FOX Stock Performance

Shares of FOXA opened at $63.24 on Friday. FOX has a 52-week low of $48.34 and a 52-week high of $76.39. The stock’s 50-day simple moving average is $65.09 and its 200 day simple moving average is $62.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The stock has a market capitalization of $26.54 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.12 and a beta of 0.60.

FOX (NASDAQ:FOXA) last posted its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts forecast that FOX will post 6.06 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. This represents a dividend yield of 86.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. FOX’s payout ratio is currently 15.14%.

Insider Transactions at FOX

In related news, CEO Lachlan Murdoch bought 149,934 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On FOX

Hedge funds have recently added to or reduced their stakes in the company. Junto Capital Management LP bought a new position in FOX during the 2nd quarter worth approximately $34,773,000. Robeco Institutional Asset Management B.V. purchased a new position in FOX in the 3rd quarter worth approximately $29,395,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in FOX in the 2nd quarter worth approximately $21,519,000. Asset Management One Co. Ltd. bought a new stake in FOX in the third quarter valued at approximately $11,195,000. Finally, Andra AP fonden lifted its position in FOX by 208.1% in the first quarter. Andra AP fonden now owns 247,000 shares of the company’s stock valued at $14,425,000 after purchasing an additional 166,822 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.