Brokerages Set Fox Corporation (NASDAQ:FOX) Price Target at $77.89

Shares of Fox Corporation (NASDAQ:FOX) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $77.8889.

FOX has been the subject of several analyst reports. Citigroup restated a “buy” rating on shares of FOX in a report on Friday, July 17th. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target on the stock in a report on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research report on Friday, July 10th. Zacks Research lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Friday, August 28th. Finally, Seaport Research Partners cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th.

FOX Price Performance

FOX stock opened at $60.27 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $53.81 and a 200-day simple moving average of $54.39. FOX has a 52-week low of $44.08 and a 52-week high of $68.18. The firm has a market capitalization of $25.29 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.62 and a beta of 0.58.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. On average, equities analysts anticipate that FOX will post 5.91 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a dividend yield of 96.0%. FOX’s dividend payout ratio is 14.62%.

Institutional Trading of FOX

Institutional investors have recently made changes to their positions in the company. Great Lakes Advisors LLC purchased a new position in FOX in the second quarter worth approximately $4,222,000. Gabelli Funds LLC raised its position in FOX by 5.2% in the fourth quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock valued at $36,789,000 after purchasing an additional 28,200 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of FOX in the 2nd quarter valued at $35,047,000. Foster & Motley Inc. acquired a new position in shares of FOX in the 2nd quarter valued at $9,237,000. Finally, Gamco Investors INC. ET AL grew its holdings in shares of FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after purchasing an additional 53,166 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.