Fox Corporation (NASDAQ:FOX) Receives Average Rating of “Moderate Buy” from Brokerages

Fox Corporation (NASDAQ:FOX) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $74.3333.

Several analysts have commented on FOX shares. Citigroup reiterated a “buy” rating on shares of FOX in a research report on Friday, July 17th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Seaport Research Partners reiterated a “neutral” rating on shares of FOX in a report on Friday. Rothschild & Co Redburn set a $71.00 price objective on FOX in a report on Friday, July 10th. Finally, Weiss Ratings lowered FOX from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th.

FOX Stock Down 1.2%

Shares of NASDAQ:FOX opened at $56.33 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.63 and a beta of 0.57. The company has a 50 day moving average of $51.56 and a 200-day moving average of $54.57. FOX has a one year low of $44.08 and a one year high of $68.18.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share 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. On average, sell-side analysts forecast that FOX will post 5.69 earnings per share for the current year.

FOX Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a dividend yield of 105.0%. FOX’s dividend payout ratio is 14.62%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. raised its holdings in FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after purchasing an additional 475 shares during the period. Versant Capital Management Inc boosted its position in shares of FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after purchasing an additional 251 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after buying an additional 703 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after buying an additional 1,301 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of FOX by 143.9% in the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock valued at $143,000 after buying an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

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.