Fox Corporation (FOX) to Distribute Dividend of $0.29 on September 23rd

Fox Corporation (NASDAQ:FOX) announced a dividend on Wednesday, August 5th. Investors of record on Wednesday, September 2nd will be paid a dividend of 0.29 per share on Wednesday, September 23rd. This represents a yield of 105.0%. The ex-dividend date of this dividend is Wednesday, September 2nd.

FOX has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. FOX has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FOX to earn $5.79 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 10.0%.

FOX Stock Performance

Shares of NASDAQ:FOX opened at $61.32 on Monday. The firm’s 50 day simple moving average is $52.92 and its 200-day simple moving average is $54.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. FOX has a one year low of $44.08 and a one year high of $68.18. The firm has a market cap of $25.73 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. As a group, equities analysts predict that FOX will post 5.91 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Seaport Research Partners downgraded FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings lowered shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of FOX in a research report on Friday, July 17th. Finally, Rothschild & Co Redburn set a $71.00 price target on FOX in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FOX has an average rating of “Moderate Buy” and a consensus target price of $77.89.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.