Fox Corporation Declares Dividend of $0.28 (NASDAQ:FOXA)

Fox Corporation (NASDAQ:FOXA) declared a dividend on Wednesday, February 4th. Stockholders of record on Wednesday, March 4th will be paid a dividend of 0.28 per share on Wednesday, March 25th. This represents a dividend yield of 83.0%. The ex-dividend date is Wednesday, March 4th.

FOX has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 4 years. FOX has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FOX to earn $4.12 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 13.6%.

FOX Trading Down 3.6%

Shares of NASDAQ FOXA traded down $2.54 during mid-day trading on Wednesday, reaching $67.73. 6,169,762 shares of the company’s stock were exchanged, compared to its average volume of 3,400,763. The company’s 50-day moving average is $71.67 and its 200-day moving average is $64.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.62 and a beta of 0.51. FOX has a 52-week low of $46.42 and a 52-week high of $76.39.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.35. The firm had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. FOX’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. Analysts expect that FOX will post 4.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FOXA. UBS Group set a $87.00 price objective on shares of FOX in a report on Friday, December 19th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Fox Advisors set a $97.00 price target on FOX in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Finally, Wells Fargo & Company increased their target price on FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.07.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.