Shares of Fox Corp (NASDAQ:FOXA) have been assigned an average recommendation of “Hold” from the twenty-five brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $44.89.
FOXA has been the subject of a number of recent research reports. Evercore ISI reiterated a “buy” rating and set a $45.00 price objective on shares of FOX in a research note on Thursday, August 8th. Gabelli started coverage on FOX in a report on Wednesday, May 15th. They issued a “buy” rating and a $57.00 target price for the company. Zacks Investment Research lowered FOX from a “hold” rating to a “sell” rating in a report on Monday. Barclays reissued a “hold” rating and issued a $38.00 target price on shares of FOX in a report on Friday, July 12th. Finally, BidaskClub raised FOX from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV acquired a new stake in shares of FOX during the 1st quarter valued at about $397,000. Geode Capital Management LLC grew its position in shares of FOX by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 13,669,016 shares of the company’s stock valued at $656,632,000 after acquiring an additional 860,913 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of FOX by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,594,654 shares of the company’s stock valued at $221,095,000 after acquiring an additional 15,713 shares during the period. 51.59% of the stock is owned by institutional investors.
FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, analysts anticipate that FOX will post 2.35 EPS for the current fiscal year.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. FOX’s payout ratio is currently 17.49%.
FOX Company Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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