Fox Co. (NASDAQ:FOXA) Given Average Rating of “Hold” by Analysts

Shares of Fox Co. (NASDAQ:FOXA) have received an average rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.19.

Several analysts have recently commented on FOXA shares. Guggenheim raised their price objective on shares of FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Wells Fargo & Company raised their price target on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. UBS Group upped their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and upped their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st.

FOX Price Performance

NASDAQ FOXA opened at $54.70 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. The business’s fifty day moving average is $49.30 and its 200 day moving average is $44.53. The company has a market capitalization of $24.98 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $55.56.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 19.9% on a year-over-year basis. Sell-side analysts predict that FOX will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of FOXA. Prudential PLC increased its holdings in FOX by 27.0% during the fourth quarter. Prudential PLC now owns 56,146 shares of the company’s stock valued at $2,728,000 after buying an additional 11,952 shares during the period. Foundry Partners LLC raised its stake in FOX by 11.8% in the fourth quarter. Foundry Partners LLC now owns 382,666 shares of the company’s stock valued at $18,590,000 after buying an additional 40,311 shares during the last quarter. Westpac Banking Corp raised its stake in FOX by 2.2% in the fourth quarter. Westpac Banking Corp now owns 105,120 shares of the company’s stock valued at $5,107,000 after buying an additional 2,270 shares during the last quarter. Ardmore Road Asset Management LP purchased a new stake in shares of FOX during the fourth quarter worth about $14,574,000. Finally, National Bank of Canada FI increased its holdings in shares of FOX by 19.6% during the fourth quarter. National Bank of Canada FI now owns 59,716 shares of the company’s stock valued at $2,901,000 after acquiring an additional 9,804 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

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.