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

Shares of Fox Co. (NASDAQ:FOXA) have been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $41.08.

Several equities research analysts have recently weighed in on FOXA shares. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Bank of America increased their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group increased their price objective on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI increased their price objective on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities increased their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th.

FOX Trading Up 0.7 %

Shares of FOXA stock opened at $42.01 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The stock’s 50 day simple moving average is $41.24 and its two-hundred day simple moving average is $36.92. FOX has a 1 year low of $28.28 and a 1 year high of $42.85. The company has a market cap of $19.61 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.92 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts predict that FOX will post 3.69 earnings per share for the current year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.27 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on 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 owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on 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 owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares during the last quarter. Friedenthal Financial purchased a new position in FOX in the 2nd quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new position in FOX in the 2nd quarter worth $52,000. Meeder Asset Management Inc. purchased a new position in FOX in the 1st quarter worth $66,000. Finally, Covestor Ltd raised its stake in FOX by 283.0% in the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after acquiring an additional 2,128 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 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.