FOX (NASDAQ:FOXA) Earns Neutral Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of FOX (NASDAQ:FOXA) in a research report sent to investors on Monday, Benzinga reports. They currently have a $34.00 price target on the stock.

Several other brokerages have also recently commented on FOXA. Wolfe Research raised FOX from an underperform rating to a peer perform rating in a research report on Thursday, January 4th. Macquarie lifted their target price on FOX from $29.00 to $30.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Citigroup raised shares of FOX from a neutral rating to a buy rating and increased their price target for the stock from $34.00 to $35.00 in a research report on Friday, February 23rd. Seaport Res Ptn raised shares of FOX from a neutral rating to a buy rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company cut their target price on shares of FOX from $30.00 to $28.00 and set an underweight rating for the company in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $33.40.

FOX Trading Up 0.2 %

Shares of FOXA opened at $30.46 on Monday. The business’s 50-day moving average price is $30.13 and its 200 day moving average price is $30.37. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $14.46 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.40 and a beta of 0.78. FOX has a 1-year low of $28.28 and a 1-year high of $35.40.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue was down 8.1% compared to the same quarter last year. Analysts expect that FOX will post 3.28 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, March 26th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, March 5th. FOX’s payout ratio is presently 30.77%.

Hedge Funds Weigh In On FOX

Several institutional investors have recently bought and sold shares of FOXA. Norges Bank acquired a new position in shares of FOX during the 4th quarter valued at about $82,385,000. Northern Trust Corp grew its holdings in FOX by 67.8% during the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after purchasing an additional 2,279,923 shares during the last quarter. KBC Group NV raised its position in shares of FOX by 453.0% in the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of FOX by 288.4% in the second quarter. Goldman Sachs Group Inc. now owns 1,893,374 shares of the company’s stock worth $64,375,000 after buying an additional 1,405,914 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of FOX by 128.0% during the 4th quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after buying an additional 1,287,911 shares during the period. 52.52% of the stock is currently owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.