Fox Corporation (NASDAQ:FOXA) Stock Has Consensus Target Price of $76.35

Fox Corporation (NASDAQ:FOXA) has earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $76.35.

A number of equities analysts have issued reports on FOXA shares. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of FOX in a research report on Wednesday, September 23rd. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and upped their target price for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Finally, Barclays decreased their price target on FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th.

Insider Activity

In other FOX news, CEO Lachlan Murdoch bought 149,934 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $68.53 per share, with a total value 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 approximately $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. raised its position in shares of FOX by 2,503.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock worth $80,000 after purchasing an additional 1,477 shares during the period. Wilkerson Advisory Group LLC increased its position in FOX by 50.6% in the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after buying an additional 482 shares during the period. EverSource Wealth Advisors LLC lifted its stake in FOX by 20.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after buying an additional 251 shares during the last quarter. Groupe la Francaise bought a new stake in FOX in the second quarter valued at $99,000. Finally, Wesbanco Bank Inc. grew its position in shares of FOX by 28.6% during the first quarter. Wesbanco Bank Inc. now owns 3,687 shares of the company’s stock worth $215,000 after acquiring an additional 819 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.6%

NASDAQ FOXA opened at $62.28 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. FOX has a fifty-two week low of $48.34 and a fifty-two week high of $76.39. The business has a 50 day moving average price of $64.52 and a two-hundred day moving average price of $61.59. The stock has a market cap of $26.14 billion, a PE ratio of 16.26, a P/E/G ratio of 1.11 and a beta of 0.60.

FOX (NASDAQ:FOXA) last released 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 for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. As a group, sell-side analysts predict that FOX will post 5.94 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were issued a $0.29 dividend. This represents a dividend yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s payout ratio is 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and Tubi, an ad-supported streaming service offering movies, television programs, and other digital content.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, and related audio and digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted programming through the FOX broadcast network and other platforms.