Fox Corporation (NASDAQ:FOX) Given Average Recommendation of “Moderate Buy” by Analysts

Fox Corporation (NASDAQ:FOX) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $77.8889.

Several equities research analysts recently issued reports on FOX shares. Rothschild & Co Redburn set a $71.00 price objective on FOX in a report on Friday, July 10th. JPMorgan Chase & Co. upgraded FOX from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target for the company in a research report on Friday, August 14th. Guggenheim reissued a “buy” rating on shares of FOX in a research note on Tuesday, August 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of FOX in a research note on Friday, July 17th.

Institutional Investors Weigh In On FOX

A number of large investors have recently made changes to their positions in FOX. Great Lakes Advisors LLC acquired a new position in FOX during the second quarter worth $4,222,000. Gabelli Funds LLC increased its stake in shares of FOX by 5.2% in the 4th quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after acquiring an additional 28,200 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of FOX in the 2nd quarter worth $35,047,000. Foster & Motley Inc. purchased a new position in shares of FOX during the 2nd quarter worth $9,237,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after acquiring an additional 53,166 shares during the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ:FOX opened at $58.42 on Friday. 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 $24.52 billion, a PE ratio of 15.25, a P/E/G ratio of 1.66 and a beta of 0.58. FOX has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The company has a fifty day moving average of $54.39 and a two-hundred day moving average of $54.48.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. As a group, research analysts forecast that FOX will post 5.91 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio is presently 15.14%.

FOX Company Profile

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.