Fox Corporation (NASDAQ:FOXA) Receives $56.47 Average Price Target from Brokerages

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 received an average recommendation of "Hold" from the eighteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $56.4667.

FOXA has been the topic of a number of analyst reports. Morgan Stanley set a $65.00 price target on FOX in a research report on Tuesday, September 9th. Bank of America lifted their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Finally, UBS Group set a $65.00 price objective on shares of FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOXA. Ameriprise Financial Inc. lifted its holdings in FOX by 30.5% during the fourth quarter. Ameriprise Financial Inc. now owns 166,202 shares of the company's stock valued at $8,074,000 after purchasing an additional 38,800 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of FOX by 5.5% during the 4th quarter. Cetera Investment Advisers now owns 24,643 shares of the company's stock worth $1,197,000 after buying an additional 1,290 shares during the last quarter. Focus Partners Wealth acquired a new position in FOX in the 4th quarter valued at $365,000. Janus Henderson Group PLC grew its stake in FOX by 4.7% in the 4th quarter. Janus Henderson Group PLC now owns 11,285 shares of the company's stock valued at $548,000 after acquiring an additional 507 shares during the last quarter. Finally, Man Group plc purchased a new position in FOX in the 4th quarter valued at about $3,239,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Trading Up 1.3%

Shares of NASDAQ FOXA traded up $0.78 during mid-day trading on Friday, hitting $60.62. 9,054,455 shares of the company traded hands, compared to its average volume of 3,428,069. The business has a 50 day moving average of $57.74 and a two-hundred day moving average of $54.73. The stock has a market capitalization of $27.01 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.45 and a beta of 0.52. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. FOX has a 1 year low of $40.20 and a 1 year high of $62.69.

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

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. This represents a dividend yield of 93.0%. FOX's payout ratio 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.