Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of “Moderate Buy” from Analysts

Fox Corporation (NASDAQ:FOXA) has earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $73.6250.

Several equities analysts recently weighed in on the company. Citigroup lifted their price target on FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Bank of America upped their target price on FOX from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Guggenheim lifted their price target on shares of FOX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. JPMorgan Chase & Co. boosted their target price on shares of FOX from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company increased their price objective on FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 31st.

FOX Trading Up 0.5%

Shares of NASDAQ:FOXA opened at $74.30 on Friday. The company has a market capitalization of $32.98 billion, a PE ratio of 16.70, a PEG ratio of 1.66 and a beta of 0.51. FOX has a 12-month low of $46.42 and a 12-month high of $74.63. The business has a 50 day moving average of $66.52 and a two-hundred day moving average of $60.79. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54.

FOX (NASDAQ:FOXA) last posted its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 168,756 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $65.97, for a total transaction of $11,132,833.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul D. Ryan sold 17,767 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 454,817 shares of company stock worth $29,490,590. 19.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FOX

A number of hedge funds have recently modified their holdings of FOXA. FWL Investment Management LLC acquired a new stake in FOX in the 3rd quarter valued at approximately $26,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX in the second quarter valued at $35,000. Quantbot Technologies LP acquired a new position in FOX during the 3rd quarter worth about $51,000. Geneos Wealth Management Inc. boosted its holdings in FOX by 205.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after acquiring an additional 621 shares during the period. Finally, WPG Advisers LLC acquired a new position in FOX in the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.