Fox Co. (NASDAQ:FOXA) Receives Consensus Rating of “Hold” from Analysts

Fox Co. (NASDAQ:FOXA) has earned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $41.08.

A number of equities analysts have weighed in on FOXA shares. The Goldman Sachs Group lifted their price objective on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Guggenheim lifted their price objective on FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Cfra restated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th.

FOX Stock Performance

NASDAQ FOXA opened at $42.01 on Tuesday. The stock has a 50-day simple moving average of $41.24 and a two-hundred day simple moving average of $36.92. The firm has a market capitalization of $19.61 billion, a P/E ratio of 13.17, a PEG ratio of 1.92 and a beta of 0.76. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $42.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. On average, equities analysts forecast that FOX will post 3.69 earnings per share for the current year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.27 dividend. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s payout ratio is presently 16.93%.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after buying an additional 117,458 shares during the period. Jane Street Group LLC raised its position in shares of FOX by 25.2% during the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares during the period. UniSuper Management Pty Ltd raised its position in shares of FOX by 565.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after buying an additional 20,250 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of FOX during the 1st quarter valued at approximately $609,000. Finally, SG Americas Securities LLC raised its position in shares of FOX by 89.6% during the 1st quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after buying an additional 23,791 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.