Cowen and Company Upgrades Twenty-First Century Fox to Market Perform (FOXA)
Twenty-First Century Fox (NASDAQ:FOXA) was upgraded by equities researchers at Cowen and Company from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $35.00 price target on the stock, up from their previous price target of $29.00. Cowen and Company’s price objective indicates a potential upside of 8.26% from the company’s current price.
Twenty-First Century Fox (NASDAQ:FOXA) traded up 7.33% during mid-day trading on Thursday, hitting $34.70. 19,431,082 shares of the company’s stock traded hands. Twenty-First Century Fox has a 52 week low of $30.67 and a 52 week high of $36.43. The stock’s 50-day moving average is $34.01 and its 200-day moving average is $33.38. The company has a market cap of $77.255 billion and a price-to-earnings ratio of 23.70. Twenty-First Century Fox also was the target of some unusual options trading on Wednesday. Stock traders acquired 13,972 call options on the company. This represents an increase of approximately 310% compared to the typical volume of 3,405 call options.
Twenty-First Century Fox (NASDAQ:FOXA) last released its earnings data on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.05. The company had revenue of $8.42 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same quarter last year, the company posted $0.31 earnings per share. Twenty-First Century Fox’s revenue was up 16.8% compared to the same quarter last year. Analysts expect that Twenty-First Century Fox will post $1.72 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FOXA. Analysts at Morgan Stanley initiated coverage on shares of Twenty-First Century Fox in a research note on Tuesday. They set an “overweight” rating and a $37.00 price target on the stock. Separately, analysts at ISI Group downgraded shares of Twenty-First Century Fox from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 17th. Finally, analysts at Barclays initiated coverage on shares of Twenty-First Century Fox in a research note on Wednesday, July 9th. They set an “overweight” rating and a $43.00 price target on the stock. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.56.
Twenty-First Century Fox, Inc, formerly News Corporation, is a diversified global media and entertainment company with operations in cable network programming; television; filmed entertainment; direct broadcast satellite television, and other, corporate and eliminations.
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