Fox Co. (NASDAQ:FOXA) Announces $0.27 Semi-annual Dividend

Fox Co. (NASDAQ:FOXA) declared a semi-annual dividend on Wednesday, February 5th,Wall Street Journal reports. Shareholders of record on Wednesday, March 5th will be given a dividend of 0.27 per share on Wednesday, March 26th. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th.

FOX has raised its dividend payment by an average of 4.1% per year over the last three years. FOX has a dividend payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect FOX to earn $3.88 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 13.9%.

FOX Price Performance

Shares of FOXA stock traded down $0.12 during trading hours on Wednesday, hitting $54.52. The stock had a trading volume of 2,820,269 shares, compared to its average volume of 3,472,732. The stock’s 50-day moving average price is $48.63 and its two-hundred day moving average price is $43.95. FOX has a one year low of $28.28 and a one year high of $55.56. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts forecast that FOX will post 4.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FOXA shares. Bank of America lifted their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group increased their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $50.19.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.77% of the stock is currently owned by corporate insiders.

About FOX

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.