FOX (NASDAQ:FOX) Upgraded by Citizens Jmp to Strong-Buy Rating

Citizens Jmp upgraded shares of FOX (NASDAQ:FOX) to a strong-buy rating in a research report released on Monday,Zacks reports.

Other equities research analysts have also issued reports about the company. Wolfe Research set a $93.00 price objective on FOX in a research note on Thursday, August 20th. Rothschild & Co Redburn set a $71.00 target price on FOX in a research report on Friday, July 10th. Citigroup assumed coverage on FOX in a research note on Monday. They issued an “outperform” rating on the stock. Guggenheim reiterated a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Finally, Zacks Research lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, FOX presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.67.

FOX Price Performance

Shares of FOX stock opened at $60.34 on Monday. The firm has a market cap of $25.32 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58. The firm’s 50-day simple moving average is $55.80 and its 200-day simple moving average is $54.86. FOX has a twelve month low of $44.08 and a twelve month high of $68.18. 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 (NASDAQ:FOX) last posted its quarterly earnings results 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. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. As a group, research analysts expect that FOX will post 5.99 EPS for the current fiscal year.

FOX Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc grew its position in FOX by 42.3% during the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after acquiring an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in FOX during the 2nd quarter valued at $70,000. Glenmede Trust Co. NA raised its position in 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 purchasing an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in FOX by 27.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock valued at $151,000 after purchasing an additional 613 shares during the last quarter. Finally, Nykredit A S acquired a new position in FOX in the second quarter worth $171,000. Institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.