Fox Co. (NASDAQ:FOXA) Receives Consensus Recommendation of “Hold” from Brokerages

Fox Co. (NASDAQ:FOXA) has been given an average rating of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.23.

A number of research firms recently issued reports on FOXA. Rosenblatt Securities lifted their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Bank of America raised FOX from a “neutral” rating to a “buy” rating and increased their price objective for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays lifted their target price on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Finally, Evercore ISI boosted their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th.

Insider Activity at FOX

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Creative Planning raised its stake in FOX by 119.2% during the 2nd quarter. Creative Planning now owns 29,277 shares of the company’s stock worth $1,006,000 after buying an additional 15,921 shares during the period. Algert Global LLC bought a new position in shares of FOX during the 2nd quarter valued at about $362,000. Kathmere Capital Management LLC acquired a new position in shares of FOX in the 2nd quarter valued at approximately $247,000. Scientech Research LLC bought a new stake in FOX during the 2nd quarter worth approximately $1,069,000. Finally, MBB Public Markets I LLC raised its holdings in FOX by 49.9% during the 2nd quarter. MBB Public Markets I LLC now owns 14,429 shares of the company’s stock worth $496,000 after buying an additional 4,806 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Stock Up 0.4 %

Shares of FOX stock opened at $39.70 on Thursday. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. FOX has a 12-month low of $28.28 and a 12-month high of $39.84. The firm has a market capitalization of $18.53 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. The stock’s fifty day moving average is $36.22 and its 200-day moving average is $33.03.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. FOX’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts anticipate that FOX will post 3.33 earnings per share for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is currently 16.93%.

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.