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

Shares of Fox Corporation (NASDAQ:FOXA) have earned a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $74.3571.

A number of analysts have recently weighed in on FOXA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Seaport Research Partners reiterated a “buy” rating and issued a $61.00 price objective on shares of FOX in a research note on Tuesday. UBS Group reiterated a “neutral” rating on shares of FOX in a research note on Monday, June 15th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company increased their price objective on shares of FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th.

FOX Price Performance

NASDAQ:FOXA opened at $52.23 on Friday. The firm has a market capitalization of $21.95 billion, a P/E ratio of 13.78, a PEG ratio of 1.86 and a beta of 0.51. FOX has a 1-year low of $50.68 and a 1-year high of $76.39. The company’s fifty day moving average price is $63.52 and its 200-day moving average price is $64.75. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, equities research analysts anticipate that FOX will post 4.93 EPS for the current year.

Institutional Trading of FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in FOX by 346.6% during the fourth quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock valued at $9,355,000 after buying an additional 99,363 shares during the period. Handelsbanken Fonder AB grew its position in FOX by 85.3% during the fourth quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock valued at $6,431,000 after buying an additional 40,515 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in FOX by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 572,145 shares of the company’s stock valued at $41,807,000 after buying an additional 16,716 shares during the period. Strs Ohio grew its position in FOX by 7.6% during the fourth quarter. Strs Ohio now owns 332,444 shares of the company’s stock valued at $24,292,000 after buying an additional 23,475 shares during the period. Finally, Geode Capital Management LLC grew its position in FOX by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after buying an additional 29,923 shares during the period. Institutional investors and hedge funds 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.