Fox Corporation (NASDAQ:FOX) Stock Now Rated “Buy” by Wall Street Analysts

Fox Corporation (NASDAQ:FOX) has earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $78.40.

Several research firms have recently commented on FOX. Wolfe Research set a $93.00 price target on shares of FOX in a report on Thursday, August 20th. Weiss Ratings upgraded shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 10th. Seaport Research Partners lowered shares of FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Royal Bank Of Canada set a $95.00 price objective on shares of FOX in a research note on Tuesday. Finally, Citigroup restated a “market outperform” rating on shares of FOX in a report on Tuesday.

FOX Stock Performance

Shares of FOX stock opened at $60.82 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $58.51 and its 200-day moving average price is $55.70. The firm has a market cap of $25.52 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.46 and a beta of 0.63. FOX has a 12 month low of $44.08 and a 12 month high of $68.18.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. On average, equities research analysts expect that FOX will post 6.23 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio (DPR) is presently 15.14%.

Insider Transactions at FOX

In other news, CEO Lachlan Murdoch bought 149,934 shares of FOX stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 23.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC purchased a new stake in FOX during the second quarter valued at approximately $35,047,000. Cooper Investors PTY Ltd. acquired a new position in shares of FOX during the third quarter worth $24,136,000. Assenagon Asset Management S.A. grew its stake in FOX by 54.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock worth $36,916,000 after buying an additional 231,724 shares during the last quarter. Foster & Motley Inc. acquired a new position in FOX during the 2nd quarter valued at about $9,237,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in FOX in the first quarter valued at about $9,328,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOX) is a 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 operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.