Fox Corporation (NASDAQ:FOXA) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Fox Corporation received a consensus “Moderate Buy” rating from 24 analysts, with 13 buy, two strong-buy, and nine hold recommendations. The average 12-month price target is $78.12.
• CEO Lachlan Murdoch purchased 149,934 FOX shares for approximately $10.3 million, increasing his position by nearly 12%; insiders own 20.89% of the company, while institutions and hedge funds own 52.52%.
• Fox reported quarterly earnings of $1.79 per share, beating estimates of $1.44, while revenue rose 28.1% year over year to $4.21 billion. Shares opened at $66.60, below the average analyst target.

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-four ratings firms that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $78.12.

FOXA has been the topic of several research reports. Raymond James Financial raised shares of FOX to a "strong-buy" rating in a report on Friday, October 16th. Bank of America raised shares of FOX from an "underperform" rating to a "buy" rating and increased their price objective for the company from $54.00 to $85.00 in a research note on Friday, October 16th. Rothschild & Co Redburn set a $71.00 target price on shares of FOX and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings raised shares of FOX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 29th. Finally, Needham & Company LLC assumed coverage on shares of FOX in a research note on Friday, October 16th. They set a "buy" rating on the stock.

Insider Buying and Selling at FOX

In other news, CEO Lachlan Murdoch acquired 149,934 shares of FOX 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 transaction, the chief executive officer directly owned 1,401,713 shares of the company's stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.89% of the stock is currently owned by company insiders.

Institutional Trading of FOX

Hedge funds have recently made changes to their positions in the company. Signaturefd LLC acquired a new position in shares of FOX in the third quarter valued at approximately $645,000. Citizens Financial Group Inc. RI acquired a new stake in FOX during the 3rd quarter worth approximately $212,000. Evergreen Capital Management LLC boosted its position in FOX by 2.1% during the 3rd quarter. Evergreen Capital Management LLC now owns 7,462 shares of the company's stock worth $467,000 after buying an additional 156 shares during the period. XXI Wealth LLC grew its holdings in FOX by 4.2% during the 3rd quarter. XXI Wealth LLC now owns 5,700 shares of the company's stock worth $357,000 after acquiring an additional 232 shares during the last quarter. Finally, PFS Partners LLC bought a new stake in FOX during the 3rd quarter worth approximately $44,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Down 2.4%

Shares of NASDAQ FOXA opened at $66.60 on Friday. The stock has a market capitalization of $27.95 billion, a P/E ratio of 17.39, a PEG ratio of 1.19 and a beta of 0.60. The stock's fifty day moving average is $65.46 and its 200 day moving average is $62.21. FOX has a 52 week low of $48.34 and a 52 week high of $76.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion during 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 company's revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. Sell-side analysts forecast that FOX will post 6.06 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX's dividend payout ratio (DPR) is 15.14%.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S. media and entertainment 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 ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.

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