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

Shares of Fox Co. (NASDAQ:FOXA) have earned an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $33.40.

A number of brokerages have recently commented on FOXA. TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. 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. Rosenblatt Securities reissued a “neutral” rating and issued a $34.00 price target on shares of FOX in a report on Monday. Macquarie increased their price target on shares of FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its position in shares of FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after purchasing an additional 845 shares during the period. Altshuler Shaham Ltd purchased a new stake in shares of FOX in the 4th quarter worth about $43,000. MV Capital Management Inc. lifted its position in shares of FOX by 36.5% in the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after purchasing an additional 379 shares during the period. Belpointe Asset Management LLC lifted its position 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 worth $49,000 after purchasing an additional 377 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of FOX in the 4th quarter worth about $53,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ FOXA opened at $30.40 on Friday. The company’s 50 day moving average is $30.11 and its 200-day moving average is $30.37. FOX has a 12-month low of $28.28 and a 12-month high of $35.40. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The firm has a market cap of $14.44 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78.

FOX (NASDAQ:FOXA) last posted its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. FOX’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. Sell-side analysts predict that FOX will post 3.28 earnings per share for the current year.

FOX Announces Dividend

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

About FOX

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.