Fox Co. (NASDAQ:FOXA) Receives $33.40 Average Target Price from Analysts

Fox Co. (NASDAQ:FOXA) has earned a consensus rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $33.40.

A number of research analysts have recently weighed in on FOXA shares. Macquarie lifted their price target on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Finally, TheStreet downgraded FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th.

Institutional Trading of FOX

Several large investors have recently made changes to their positions in FOXA. Raymond James Financial Services Advisors Inc. boosted its stake in shares of FOX by 13.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after acquiring an additional 2,440 shares in the last quarter. American Century Companies Inc. raised its holdings in FOX by 2.6% in the 1st quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock valued at $2,210,000 after acquiring an additional 1,428 shares in the last quarter. US Bancorp DE raised its holdings in FOX by 34.7% in the 1st quarter. US Bancorp DE now owns 12,614 shares of the company’s stock valued at $498,000 after acquiring an additional 3,249 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in FOX by 6.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock valued at $974,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of FOX by 196.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock worth $107,000 after buying an additional 1,800 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Down 2.1 %

Shares of FOX stock opened at $30.09 on Friday. The stock’s fifty day moving average is $30.15 and its 200-day moving average is $30.38. The firm has a market capitalization of $14.29 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. FOX has a 12-month low of $28.28 and a 12-month high of $35.40.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. Equities analysts anticipate that FOX will post 3.28 earnings per share for the current year.

FOX Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a yield of 1.8%. FOX’s dividend payout ratio (DPR) is currently 30.77%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.