Fox Corporation (NASDAQ:FOX) Receives $75.00 Consensus PT from Brokerages

by · The Markets Daily

Fox Corporation (NASDAQ:FOX – Get Free Report) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $75.00.

Several brokerages have recently weighed in on FOX. Bank of America reiterated an “underperform” rating and issued a $45.00 price target (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. Wells Fargo & Company cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of FOX in a research note on Monday, December 22nd. Finally, Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th.

Get Our Latest Stock Analysis on FOX

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 242,309 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the sale, the chief operating officer owned 357,653 shares of the company’s stock, valued at $20,650,884.22. This trade represents a 40.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the transaction, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. The trade was a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,586,871 shares of company stock worth $91,893,926 over the last 90 days. Corporate insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

A number of hedge funds have recently made changes to their positions in FOX. Gabelli Funds LLC raised its position in FOX by 26.4% during the third quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock valued at $30,845,000 after purchasing an additional 112,600 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of FOX by 4.2% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 246,011 shares of the company’s stock valued at $12,702,000 after purchasing an additional 10,000 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of FOX by 140.6% during the 2nd quarter. Marshall Wace LLP now owns 356,874 shares of the company’s stock valued at $18,425,000 after buying an additional 208,547 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its position in FOX by 786.4% in the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 23,720 shares of the company’s stock worth $1,352,000 after buying an additional 21,044 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in FOX by 2,459.6% in the 4th quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after buying an additional 396,900 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

FOX Stock Performance

Shares of FOX stock opened at $52.87 on Wednesday. The firm’s 50 day moving average is $54.76 and its 200 day moving average is $57.82. The stock has a market capitalization of $22.49 billion, a P/E ratio of 12.71, a PEG ratio of 6.48 and a beta of 0.54. FOX has a 12 month low of $43.18 and a 12 month high of $68.18. The company has a current ratio of 2.78, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOX – Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.31. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.06 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. On average, sell-side analysts anticipate that FOX will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is currently 13.46%.

FOX Company Profile

(Get Free Report)

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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