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

Key Points

• Analyst consensus: "Hold" — Seventeen analysts rate FOXA an average Hold (1 sell, 9 hold, 7 buy) with a 12‑month average price target of $72.93.
• Recent results beat expectations — FOX reported Q earnings of $0.82 EPS vs. $0.47 expected and revenue of $5.18 billion vs. $5.02 billion, with shares trading near $63.35 and a market cap of about $26.95 billion.
• Significant insider selling — CEO Lachlan Murdoch sold 637,752 shares (~$37.1M) and the COO sold 216,806 shares (~$12.5M); insiders sold ~1.59M shares (~$91.9M) over the last 90 days while insiders still own 19.68% of the company.

Fox Corporation (NASDAQ:FOXA - Get Free Report) has received an average rating of "Hold" from the seventeen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $72.9286.

FOXA has been the topic of several research reports. Bank of America lowered FOX from a "buy" rating to an "underperform" rating and set a $45.00 target price on the stock. in a research note on Wednesday, February 25th. TD Cowen boosted their target price on FOX from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, February 5th. Morgan Stanley boosted their target price on FOX from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. UBS Group set a $64.00 target price on FOX in a research note on Tuesday, February 24th. Finally, Argus upgraded FOX to a "hold" rating in a research note on Thursday, February 19th.

FOX Stock Performance

Shares of FOX stock opened at $63.35 on Friday. The business's fifty day simple moving average is $59.78 and its 200 day simple moving average is $64.60. The firm has a market capitalization of $26.95 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 7.82 and a beta of 0.52. FOX has a 12 month low of $47.66 and a 12 month high of $76.39. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.35. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.FOX's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. As a group, analysts anticipate that FOX will post 4.6 EPS for the current year.

FOX Dividend Announcement

The company also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX's payout ratio is presently 13.46%.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares in the company, valued at approximately $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 216,806 shares of FOX stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the transaction, the chief operating officer owned 362,206 shares of the company's stock, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,586,871 shares of company stock worth $91,893,926. Corporate insiders own 19.68% of the company's stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently made changes to their positions in the stock. FWL Investment Management LLC purchased a new position in shares of FOX in the third quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in shares of FOX in the fourth quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new position in shares of FOX in the second quarter valued at $35,000. Rosenberg Matthew Hamilton grew its position in shares of FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company's stock valued at $51,000 after purchasing an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of FOX in the third quarter valued at $51,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

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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