FOX (NASDAQ:FOX) Sets New 1-Year High - Still a Buy?

Key Points

• Fox Corporation (NASDAQ:FOX) reached a new 52-week high of $57.02, with a recent trading price of $57.00 and significant trading volume of over 2.26 million shares.
• The company reported a quarterly earnings of $1.27 per share, surpassing analyst expectations by $0.24, and had a revenue of $3.29 billion for the quarter versus estimates of $3.12 billion.
• FOX announced a half-year dividend of $0.28 per share, with a dividend payout ratio of 11.41%, reflecting the company's strong financial position.

Fox Corporation (NASDAQ:FOX - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $57.02 and last traded at $57.00, with a volume of 2264168 shares changing hands. The stock had previously closed at $55.29.

FOX Price Performance

The company's fifty day moving average is $53.18 and its two-hundred day moving average is $50.58. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. 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 (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.24. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. Equities research analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently announced a half year 25 dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.41%.

Institutional Investors Weigh In On FOX

Several hedge funds have recently bought and sold shares of the company. State of Tennessee Department of Treasury increased its position in shares of FOX by 352.7% during the second quarter. State of Tennessee Department of Treasury now owns 80,407 shares of the company's stock worth $4,151,000 after acquiring an additional 62,646 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of FOX during the second quarter worth $203,000. Redwood Investment Management LLC bought a new stake in shares of FOX during the second quarter worth $1,374,000. Ameriprise Financial Inc. increased its position in shares of FOX by 20.6% during the second quarter. Ameriprise Financial Inc. now owns 89,644 shares of the company's stock worth $4,628,000 after acquiring an additional 15,309 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of FOX by 4.2% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 246,011 shares of the company's stock worth $12,702,000 after acquiring an additional 10,000 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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