Fox Co. (NASDAQ:FOXA) Receives Average Rating of “Hold” from Brokerages

Fox Co. (NASDAQ:FOXA) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $33.40.

A number of brokerages recently issued reports on FOXA. Wells Fargo & Company cut their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. Macquarie raised their price objective on FOX from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $35.00 in a research report on Friday, February 23rd. Rosenblatt Securities restated a “neutral” rating and set a $34.00 target price on shares of FOX in a report on Monday, April 15th. Finally, Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th.

FOX Stock Up 1.4 %

Shares of FOXA opened at $32.56 on Tuesday. FOX has a 52-week low of $28.28 and a 52-week high of $35.40. The company has a market capitalization of $15.46 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.43 and a beta of 0.77. The stock has a fifty day simple moving average of $30.53 and a two-hundred day simple moving average of $30.42. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the company earned $0.48 EPS. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, equities analysts forecast that FOX will post 3.18 EPS for the current year.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its stake in FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after purchasing an additional 845 shares during the last quarter. UMB Bank n.a. lifted its stake in FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after purchasing an additional 809 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in FOX during the fourth quarter worth approximately $43,000. MV Capital Management Inc. lifted its stake in FOX by 36.5% during the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after purchasing an additional 379 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in FOX during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.