Fox Corporation (NASDAQ:FOX) Stock Has Consensus Price Target of $76.56

Fox Corporation (NASDAQ:FOX) has received an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $78.40.

Several equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 10th. Royal Bank Of Canada set a $95.00 price objective on shares of FOX in a research note on Tuesday. Citigroup reiterated a “market outperform” rating on shares of FOX in a report on Tuesday. Fox Advisors reissued a “market outperform” rating on shares of FOX in a report on Tuesday. Finally, Wolfe Research set a $93.00 price target on FOX in a report on Thursday, August 20th.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.06% of the company’s stock.

Institutional Investors Weigh In On FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after buying an additional 251 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of FOX by 4.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock valued at $311,000 after acquiring an additional 254 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of FOX by 9.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 4,022 shares of the company’s stock valued at $226,000 after acquiring an additional 350 shares during the last quarter. Arlington Partners LLC lifted its holdings in shares of FOX by 12.4% in the 2nd quarter. Arlington Partners LLC now owns 5,054 shares of the company’s stock valued at $237,000 after acquiring an additional 556 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in FOX by 27.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock worth $151,000 after acquiring an additional 613 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ FOX opened at $59.46 on Friday. FOX has a 52-week low of $44.08 and a 52-week high of $68.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The company has a 50-day simple moving average of $58.48 and a 200 day simple moving average of $55.73. The company has a market capitalization of $24.95 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. On average, research analysts predict that FOX will post 6.23 EPS for the current year.

FOX Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a dividend yield of 96.0%. FOX’s dividend payout ratio is presently 15.14%.

About FOX

Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.