Fox Corporation (NASDAQ:FOXA) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Fox Corporation has received an average rating of "Moderate Buy" from 18 research firms, with nine analysts recommending a hold and nine a buy.
• The company's stock target price has an average of $57.60, with UBS Group setting a buy rating and a target price of $65.00.
• Fox recently announced a dividend increase to $0.28 per share, which represents a yield of 93.0%, up from the previous $0.18, reflecting positive financial performance.

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $57.60.

Several research firms have recently weighed in on FOXA. Weiss Ratings reiterated a "buy (b+)" rating on shares of FOX in a report on Wednesday, October 8th. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Barclays boosted their target price on FOX from $52.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On FOX

Several institutional investors have recently bought and sold shares of FOXA. Hemington Wealth Management lifted its stake in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after acquiring an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of FOX during the 2nd quarter worth approximately $35,000. Zions Bancorporation National Association UT bought a new stake in shares of FOX during the 1st quarter worth approximately $40,000. Allworth Financial LP raised its stake in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares in the last quarter. Finally, TCTC Holdings LLC raised its stake in shares of FOX by 112.5% during the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company's stock worth $45,000 after purchasing an additional 422 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Trading Up 1.4%

NASDAQ:FOXA opened at $58.10 on Tuesday. FOX has a fifty-two week low of $41.30 and a fifty-two week high of $65.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The stock has a market capitalization of $25.89 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.35 and a beta of 0.54. The business's 50-day simple moving average is $59.29 and its 200-day simple moving average is $55.56.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the business posted $0.90 EPS. FOX's revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a yield of 93.0%. The ex-dividend date was Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is presently 11.41%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.

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