Fox Corporation (NASDAQ:FOXA) Receives $56.47 Consensus Target Price from Analysts

Key Points

• Fox Corporation has an average analyst rating of "Hold", with one sell recommendation, eight holds, and nine buys from eighteen ratings firms.
• The company's recent earnings report showed $1.27 EPS for the quarter, exceeding the estimated $1.01, and a revenue increase of 6.3% compared to the previous year.
• Fox Corporation has announced a dividend increase from $0.18 to $0.28, with a yield of 93.0%, which will be paid to shareholders on September 24th.

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have been given a consensus recommendation of "Hold" by the eighteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $56.4667.

Several equities analysts have recently weighed in on FOXA shares. Wells Fargo & Company boosted their target price on FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. UBS Group set a $65.00 price target on shares of FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Guggenheim restated a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th.

Institutional Trading of FOX

Large investors have recently made changes to their positions in the stock. CWM LLC boosted its position in FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after buying an additional 527 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of FOX by 7.8% in the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares during the period. Private Trust Co. NA lifted its position in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after purchasing an additional 431 shares during the period. HB Wealth Management LLC bought a new position in FOX in the first quarter worth approximately $420,000. Finally, Janney Montgomery Scott LLC boosted its position in FOX by 152.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after acquiring an additional 19,181 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

FOXA stock traded up $1.80 during trading on Friday, hitting $62.42. 5,934,221 shares of the company's stock traded hands, compared to its average volume of 3,738,435. FOX has a 52 week low of $40.29 and a 52 week high of $62.69. The stock has a market capitalization of $27.81 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.45 and a beta of 0.52. The business has a fifty day simple moving average of $57.86 and a 200 day simple moving average of $54.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91.

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

FOX Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is presently 11.41%.

FOX Company Profile

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.