Fox Corporation (NASDAQ:FOX) Stock Has Average Price Target of $76.56

Key Points

• Analysts maintain a bullish outlook: FOX has a consensus “Buy” rating from 11 firms, with an average 12-month price target of $76.56 versus its reported price of $57.22.
• Quarterly results exceeded expectations: FOX reported adjusted earnings of $1.79 per share, beating estimates by $0.35, while revenue of $4.21 billion surpassed the $3.64 billion consensus forecast.
• Insider and institutional interest remains notable: CEO Lachlan Murdoch purchased nearly 150,000 shares, and institutional investors own 26.41% of the company.

Shares of Fox Corporation (NASDAQ:FOX - Get Free Report) have received a consensus recommendation of "Buy" from the eleven research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $76.56.

FOX has been the subject of a number of recent analyst reports. Guggenheim reiterated a "buy" rating on shares of FOX in a report on Tuesday, August 25th. JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research report on Friday, July 10th. Seaport Research Partners downgraded shares of FOX from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Finally, Citigroup initiated coverage on shares of FOX in a research note on Monday, September 14th. They set an "outperform" rating for the company.

FOX Stock Performance

NASDAQ:FOX opened at $57.22 on Friday. The firm has a market cap of $24.01 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. FOX has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The business has a 50 day moving average price of $58.28 and a 200-day moving average price of $55.51.

FOX (NASDAQ:FOX - Get Free Report) last issued its 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. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $3.64 billion. Equities research analysts predict that FOX will post 5.99 earnings per share for the current year.

FOX Announces Dividend

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

Insider Transactions at FOX

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 23.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC raised its holdings in shares of FOX by 9.5% during the third quarter. V Square Quantitative Management LLC now owns 4,022 shares of the company's stock valued at $226,000 after acquiring an additional 350 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in FOX by 54.7% in the third quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company's stock worth $36,916,000 after acquiring an additional 231,724 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in FOX in the third quarter valued at $454,000. Cooper Investors PTY Ltd. bought a new stake in FOX in the third quarter valued at $24,136,000. Finally, Perpetual Ltd boosted its holdings in FOX by 174.1% in the third quarter. Perpetual Ltd now owns 156,900 shares of the company's stock valued at $8,833,000 after acquiring an additional 99,667 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

About FOX

Fox Corporation NASDAQ: FOX 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 the Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.

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