Zacks Investment Research upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports. They currently have $43.00 price objective on the stock.
According to Zacks, “Fox Corporation produces and distributes compelling news, sports and entertainment content. The company’s brand includes FOX News, FOX Sports, the FOX Network, the FOX Television Stations and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network. Fox Corporation is based in New York, United States. “
Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of FOX in a research report on Monday, March 25th. They set an overweight rating and a $46.00 price target for the company. BMO Capital Markets began coverage on shares of FOX in a research report on Wednesday, April 10th. They set a market perform rating and a $37.00 price target for the company. Credit Suisse Group upped their price target on shares of FOX from $46.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, May 6th. Gabelli began coverage on shares of FOX in a research report on Wednesday, May 15th. They set a buy rating and a $57.00 price target for the company. Finally, UBS Group upped their price target on shares of FOX to $52.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. FOX has a consensus rating of Buy and a consensus target price of $47.00.
FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.64 by $0.12. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts forecast that FOX will post 2.55 EPS for the current fiscal year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a dividend of $0.23 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.18. The ex-dividend date of this dividend is Friday, May 17th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC purchased a new stake in FOX during the fourth quarter worth approximately $26,000. Sontag Advisory LLC purchased a new stake in FOX during the fourth quarter worth approximately $36,000. We Are One Seven LLC purchased a new stake in FOX during the fourth quarter worth approximately $38,000. Athena Capital Advisors LLC purchased a new stake in FOX during the fourth quarter worth approximately $40,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in FOX during the fourth quarter worth approximately $70,000. Institutional investors own 2.49% of the company’s stock.
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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