Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus remains “Hold” for Fox, with one sell, eight hold and nine buy ratings among 18 analysts. The average 12-month price target is $74.38, compared with a recent share price of $67.71.
• Fox reported stronger-than-expected quarterly results, posting $1.79 in EPS versus the $1.44 estimate and $4.21 billion in revenue versus the $3.64 billion consensus; revenue increased 28.1% year over year.
• Institutional investors own 52.52% of FOX, with several major funds increasing their positions. The company also declared a quarterly dividend of $0.29 per share, representing a 15.14% payout ratio.

Fox Corporation (NASDAQ:FOXA - Get Free Report) has received a consensus rating of "Hold" from the eighteen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $74.3750.

Several analysts have commented on the stock. Seaport Research Partners cut shares of FOX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Fox Advisors set a $82.00 target price on shares of FOX in a research note on Friday, August 14th. Guggenheim reissued a "buy" rating and issued a $85.00 price objective on shares of FOX in a research report on Tuesday, August 25th. Finally, Wall Street Zen raised FOX from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th.

Hedge Funds Weigh In On FOX

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its holdings in FOX by 4,720.6% in the 2nd quarter. California State Teachers Retirement System now owns 19,330,183 shares of the company's stock valued at $1,008,262,000 after acquiring an additional 18,929,193 shares during the period. Ameriprise Financial Inc. grew its position in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock worth $101,948,000 after purchasing an additional 762,645 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of FOX during the 2nd quarter worth approximately $21,519,000. SG Americas Securities LLC increased its stake in FOX by 299.8% during the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company's stock worth $29,890,000 after acquiring an additional 383,782 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of FOX by 624.5% in the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company's stock worth $15,753,000 after purchasing an additional 242,321 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Stock Up 0.3%

Shares of NASDAQ:FOXA opened at $67.71 on Friday. 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 firm has a market cap of $28.41 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.21 and a beta of 0.55. The company's 50-day moving average price is $60.53 and its two-hundred day moving average price is $60.53. FOX has a 12 month low of $48.34 and a 12 month high of $76.39.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.35. The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX's revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. As a group, research analysts forecast that FOX will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 86.0%. FOX's dividend payout ratio is currently 15.14%.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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