Fox Co. (NASDAQ:FOXA) Plans Semi-annual Dividend of $0.27

Fox Co. (NASDAQ:FOXA - Get Free Report) declared a semi-annual dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.27 per share on Wednesday, March 26th. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th.

FOX has raised its dividend payment by an average of 4.1% annually over the last three years. FOX has a payout ratio of 14.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FOX to earn $4.17 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 12.9%.

FOX Trading Down 0.8 %

NASDAQ FOXA traded down $0.45 on Friday, reaching $52.79. The company had a trading volume of 2,976,688 shares, compared to its average volume of 3,616,458. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.17 and a beta of 0.76. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $55.56. The business has a 50 day moving average of $49.03 and a two-hundred day moving average of $44.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business's quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Analysts forecast that FOX will post 4.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FOXA. Barclays upped their price objective on shares of FOX from $39.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on FOX from $59.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Guggenheim raised their target price on FOX from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.19.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders own 21.77% of the company's stock.

FOX Company Profile

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.