FOX (NASDAQ:FOXA) Price Target Lowered to $65.00 at Wells Fargo & Company

FOX (NASDAQ:FOXA) had its price objective reduced by Wells Fargo & Company from $71.00 to $65.00 in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have an equal weight rating on the stock.

Other analysts have also issued reports about the company. UBS Group reiterated a “neutral” rating on shares of FOX in a report on Monday, June 15th. JPMorgan Chase & Co. increased their target price on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Barclays dropped their price target on FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $79.00 price objective on shares of FOX in a research report on Tuesday, May 12th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $61.00 target price on shares of FOX in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FOX has a consensus rating of “Hold” and a consensus target price of $73.73.

FOX Trading Up 0.5%

NASDAQ FOXA opened at $56.13 on Monday. 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 has a 12 month low of $48.34 and a 12 month high of $76.39. The company’s fifty day moving average price is $61.10 and its two-hundred day moving average price is $63.49. The company has a market capitalization of $23.59 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.61 and a beta of 0.54.

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

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently made changes to their positions in FOXA. Geneos Wealth Management Inc. lifted its stake in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of FOX by 286.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after purchasing an additional 1,014 shares during the period. Baird Financial Group Inc. raised its holdings in shares of FOX by 19.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock worth $981,000 after buying an additional 2,876 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after buying an additional 49,963 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after buying an additional 762,645 shares during the period. 52.52% of the stock is owned by 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.