Fox Corporation (NASDAQ:FOXA – Get Free Report)’s stock price hit a new 52-week high during trading on Monday after Bank of America raised their price target on the stock from $65.00 to $70.00. Bank of America currently has a buy rating on the stock. FOX traded as high as $62.90 and last traded at $62.89, with a volume of 1973426 shares changing hands. The stock had previously closed at $61.15.
A number of other equities analysts have also commented on FOXA. Wells Fargo & Company boosted their price target on shares of FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 9th. UBS Group set a $65.00 target price on FOX and gave the stock a “buy” rating in a report on Wednesday, June 25th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Finally, Morgan Stanley set a $65.00 price objective on FOX in a research note on Tuesday, September 9th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, FOX currently has a consensus rating of “Moderate Buy” and an average price target of $57.20.
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Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP raised its position in shares of FOX by 7.3% during the fourth quarter. Two Sigma Investments LP now owns 27,569 shares of the company’s stock worth $1,339,000 after acquiring an additional 1,869 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in FOX by 7.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,468 shares of the company’s stock worth $509,000 after purchasing an additional 754 shares during the period. GAMMA Investing LLC increased its position in FOX by 6,554.4% in the first quarter. GAMMA Investing LLC now owns 470,403 shares of the company’s stock worth $26,625,000 after purchasing an additional 463,334 shares during the period. Parallel Advisors LLC raised its holdings in FOX by 32.0% during the 1st quarter. Parallel Advisors LLC now owns 2,584 shares of the company’s stock worth $146,000 after purchasing an additional 626 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in FOX by 5.6% during the 1st quarter. Rhumbline Advisers now owns 443,431 shares of the company’s stock valued at $25,098,000 after purchasing an additional 23,318 shares during the period. 52.52% of the stock is currently owned by institutional investors.
FOX Stock Up 0.3%
The firm’s 50 day moving average price is $58.54 and its 200-day moving average price is $55.13. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The company has a market cap of $28.10 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52.
FOX (NASDAQ:FOXA – Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. FOX’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. As a group, equities research analysts expect that Fox Corporation will post 4.38 EPS for the current year.
FOX Increases Dividend
The business also recently disclosed a dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. This represents a dividend yield of 93.0%. This is a boost from FOX’s previous dividend of $0.18. The ex-dividend date of this dividend was Wednesday, September 3rd. FOX’s payout ratio is presently 11.41%.
FOX Company Profile
(Get Free Report)
Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.
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