Fox Corporation (NASDAQ:FOXA) Given Consensus Recommendation of “Hold” by Brokerages

Fox Corporation (NASDAQ:FOXA) has been given an average recommendation of “Hold” by the seventeen research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $74.8571.

FOXA has been the subject of a number of recent research reports. Bank of America downgraded shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective for the company. in a research note on Wednesday, February 25th. Barclays boosted their price objective on shares of FOX from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Evercore set a $73.00 price objective on shares of FOX in a research note on Tuesday, May 12th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price objective on shares of FOX in a research note on Wednesday, February 4th.

FOX Stock Performance

FOX stock opened at $64.96 on Wednesday. The company has a 50 day moving average price of $62.09 and a 200-day moving average price of $65.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. FOX has a fifty-two week low of $52.96 and a fifty-two week high of $76.39. The company has a market capitalization of $27.30 billion, a PE ratio of 17.14, a P/E/G ratio of 3.32 and a beta of 0.52.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. The company’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, equities analysts forecast that FOX will post 4.93 earnings per share for the current year.

Insider Buying and Selling

In related news, COO John Nallen sold 242,309 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the transaction, the chief operating officer owned 357,653 shares of the company’s stock, valued at $20,650,884.22. The trade was a 40.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. This trade represents a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,586,871 shares of company stock valued at $91,893,926 in the last three months. 19.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FOX

Several institutional investors and hedge funds have recently bought and sold shares of FOXA. Private Trust Co. NA lifted its stake in shares of FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after buying an additional 187 shares during the period. Parallel Advisors LLC lifted its stake in shares of FOX by 9.2% during the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock valued at $160,000 after buying an additional 214 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of FOX by 27.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after buying an additional 229 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of FOX by 3.5% during the fourth quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock valued at $505,000 after buying an additional 232 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after buying an additional 251 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Company Profile

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.