Fox Corporation (NASDAQ:FOX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Fox Corporation, with seven buy ratings, two strong-buy ratings, one hold and one sell. The average 12-month price target is $77.67, above the reported share price of $57.32.
• CEO Lachlan Murdoch purchased nearly 150,000 FOX shares for approximately $10.3 million, increasing his ownership by 11.98%. Insiders own 23.06% of the company, while institutional investors hold 26.41%.
• Fox exceeded quarterly expectations, reporting $1.79 in earnings per share versus the $1.44 consensus estimate and $4.21 billion in revenue versus $3.64 billion expected. The company also announced a $0.29-per-share dividend.

Fox Corporation (NASDAQ:FOX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $77.6667.

A number of analysts recently weighed in on the stock. Guggenheim reissued a "buy" rating on shares of FOX in a research note on Tuesday, August 25th. Seaport Research Partners downgraded FOX from a "buy" rating to a "hold" rating in a report on Friday, August 7th. JPMorgan Chase & Co. upgraded FOX from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Weiss Ratings upgraded FOX from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 10th. Finally, Citizens Jmp upgraded shares of FOX to a "strong-buy" rating in a report on Monday, September 14th.

Insiders Place Their Bets

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.06% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in FOX by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company's stock valued at $311,000 after buying an additional 254 shares during the period. National Pension Service lifted its position in shares of FOX by 56.2% in the 2nd quarter. National Pension Service now owns 56,048 shares of the company's stock worth $2,625,000 after purchasing an additional 20,157 shares during the period. Engineers Gate Manager LP boosted its stake in shares of FOX by 1,257.1% in the 2nd quarter. Engineers Gate Manager LP now owns 75,018 shares of the company's stock valued at $3,514,000 after purchasing an additional 69,490 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of FOX during the second quarter worth $70,000. Finally, Squarepoint Ops LLC acquired a new stake in FOX during the 2nd quarter worth about $310,000. Institutional investors and hedge funds own 26.41% of the company's stock.

FOX Trading Down 1.0%

Shares of FOX stock opened at $57.32 on Wednesday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The business's 50 day moving average is $56.71 and its two-hundred day moving average is $55.07. The company has a market cap of $24.05 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58. FOX has a 12 month low of $44.08 and a 12 month high of $68.18.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. Equities analysts predict that FOX will post 5.99 EPS for the current year.

FOX Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a yield of 96.0%. The ex-dividend date is Wednesday, September 2nd. FOX's payout ratio is presently 15.14%.

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.

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