Twenty-First Century Fox Given Overweight Rating at Morgan Stanley (FOXA)
Twenty-First Century Fox (NASDAQ:FOXA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Morgan Stanley in a research report issued on Thursday, AnalystRatingsNetwork.com reports. They currently have a $37.00 target price on the stock, up from their previous target price of $34.00. Morgan Stanley’s target price points to a potential upside of 13.97% from the company’s current price.
The analysts wrote, “At its recent analyst day, FOX laid out an ambitious but realistic 3 year growth plan to deliver low-teens annual EBITDA growth. This outlook, which we believe is realistic, supports our OW thesis, and positions FOX as the fastest growing large cap media company in our coverage universe.”
A number of other firms have also recently commented on FOXA. Analysts at ISI Group initiated coverage on shares of Twenty-First Century Fox (NASDAQ:FOXA) in a research note to investors on Tuesday. They set a “strong-buy” rating and a $38.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Twenty-First Century Fox (NASDAQ:FOXA) in a research note to investors on Tuesday, September 3rd. Finally, analysts at Zacks upgraded shares of Twenty-First Century Fox (NASDAQ:FOXA) from an “underperform” rating to a “neutral” rating in a research note to investors on Monday, September 2nd. They now have a $32.10 price target on the stock.
Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $35.41.
Shares of Twenty-First Century Fox (NASDAQ:FOXA) traded down 0.11% during mid-day trading on Thursday, hitting $32.43. The stock had a trading volume of 2,511,561 shares. Twenty-First Century Fox has a 52-week low of $20.2915 and a 52-week high of $33.84. The stock has a 50-day moving average of $31.58 and a 200-day moving average of $28.91. The company has a market cap of $74.898 billion and a P/E ratio of 10.71.
Twenty-First Century Fox (NASDAQ:FOXA) last released its earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by $0.03. The company had revenue of $7.21 billion for the quarter, compared to the consensus estimate of $7.12 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts predict that Twenty-First Century Fox will post $1.56 earnings per share for the current fiscal year.
The company also recently declared a semiannual dividend, which is scheduled for Wednesday, October 16th. Investors of record on Wednesday, September 11th will be given a dividend of $0.13 per share. This represents a yield of 0.77%. The ex-dividend date of this dividend is Monday, September 9th.
Twenty-First Century Fox, Inc, formerly News Corporation, has a portfolio of cable, broadcast, film, pay television and satellite assets spanning six continents across the globe.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.