FOX (NASDAQ:FOXA) Rating Increased to Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of FOX (NASDAQ:FOXA - Free Report) from a neutral rating to a buy rating in a report released on Friday, Zacks.com reports. Seaport Res Ptn also issued estimates for FOX's Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $0.23 EPS and FY2025 earnings at $4.19 EPS.

Several other research firms have also recently issued reports on FOXA. Citigroup raised shares of FOX from a neutral rating to a buy rating and increased their price target for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Wolfe Research raised shares of FOX from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Wells Fargo & Company dropped their target price on shares of FOX from $30.00 to $28.00 and set an underweight rating for the company in a report on Thursday, February 8th. Macquarie increased their target price on shares of FOX from $29.00 to $30.00 and gave the company a neutral rating in a report on Thursday, February 8th. Finally, TheStreet cut shares of FOX from a b- rating to a c rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of Hold and an average target price of $33.40.

FOX Stock Performance

Shares of FOXA traded down $0.12 during mid-day trading on Friday, hitting $31.02. 6,128,219 shares of the company's stock were exchanged, compared to its average volume of 3,059,018. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The firm has a market capitalization of $14.73 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.41 and a beta of 0.78. The business's 50 day moving average is $30.29 and its two-hundred day moving average is $30.41. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business's quarterly revenue was down 8.1% compared to the same quarter last year. On average, equities analysts expect that FOX will post 3.28 earnings per share for the current year.

FOX Announces Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a yield of 1.8%. FOX's dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of FOX

Hedge funds have recently bought and sold shares of the company. Cornercap Investment Counsel Inc. boosted its holdings in shares of FOX by 0.8% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company's stock valued at $1,236,000 after purchasing an additional 324 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of FOX by 3.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,983 shares of the company's stock valued at $337,000 after purchasing an additional 334 shares during the last quarter. Prudential PLC boosted its holdings in shares of FOX by 1.6% in the 3rd quarter. Prudential PLC now owns 23,068 shares of the company's stock valued at $720,000 after purchasing an additional 362 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of FOX by 3.8% in the 3rd quarter. Empirical Finance LLC now owns 10,212 shares of the company's stock valued at $319,000 after purchasing an additional 372 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in shares of FOX by 35.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company's stock valued at $49,000 after purchasing an additional 377 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.