Fox Corporation (NASDAQ:FOX) Stock Has Average Target Price of $76.56 According to Analysts

Shares of Fox Corporation (NASDAQ:FOX) have received a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $76.56.

Several analysts have weighed in on FOX shares. Wolfe Research set a $93.00 price objective on FOX in a research report on Thursday, August 20th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Citizens Jmp raised FOX to a “strong-buy” rating in a research report on Monday, September 14th. Seaport Research Partners cut FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. upgraded FOX from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $82.00 in a research note on Friday, August 14th.

FOX Price Performance

Shares of NASDAQ FOX opened at $57.22 on Friday. FOX has a 1 year low of $44.08 and a 1 year high of $68.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The company’s 50-day moving average is $58.28 and its 200 day moving average is $55.51. The stock has a market capitalization of $24.01 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.48 and a beta of 0.63.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. On average, sell-side analysts expect that FOX will post 5.99 earnings per share for the current year.

FOX Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were issued a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio is 15.14%.

Insider Transactions at FOX

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value 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 $96,059,391.89. This represents a 11.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC lifted its stake in shares of FOX by 9.5% in the third quarter. V Square Quantitative Management LLC now owns 4,022 shares of the company’s stock worth $226,000 after buying an additional 350 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of FOX by 54.7% during the third quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock valued at $36,916,000 after purchasing an additional 231,724 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of FOX during the third quarter valued at $454,000. Cooper Investors PTY Ltd. purchased a new stake in shares of FOX during the third quarter valued at $24,136,000. Finally, Perpetual Ltd boosted its position in shares of FOX by 174.1% during the third quarter. Perpetual Ltd now owns 156,900 shares of the company’s stock valued at $8,833,000 after buying an additional 99,667 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOX) is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.