Fox Corporation (NASDAQ:FOXA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Fox Corporation (NASDAQ:FOXA) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $70.50.

A number of research analysts recently commented on FOXA shares. Barclays raised their price target on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. Arete raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price on the stock in a report on Tuesday, October 28th. Evercore ISI boosted their target price on shares of FOX from $55.00 to $66.00 and gave the company an “in-line” rating in a research report on Friday, October 31st. Morgan Stanley set a $70.00 price target on shares of FOX in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of FOX in a research note on Monday.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 168,756 shares of FOX stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven Tomsic sold 138,397 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $66.54, for a total value of $9,208,936.38. Following the transaction, the chief financial officer directly owned 180,556 shares of the company’s stock, valued at approximately $12,014,196.24. The trade was a 43.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 424,920 shares of company stock valued at $27,411,254. Corporate insiders own 19.68% of the company’s stock.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently made changes to their positions in FOXA. Nuveen LLC acquired a new position in FOX during the 1st quarter worth approximately $63,125,000. Junto Capital Management LP acquired a new stake in FOX in the first quarter valued at approximately $53,681,000. Ameriprise Financial Inc. grew its stake in shares of FOX by 537.0% during the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company’s stock worth $59,909,000 after buying an additional 892,437 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of FOX by 101.6% during the first quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company’s stock worth $78,381,000 after buying an additional 715,583 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of FOX by 1,355.2% during the first quarter. 1832 Asset Management L.P. now owns 618,303 shares of the company’s stock worth $34,996,000 after buying an additional 575,813 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Trading Down 0.2%

Shares of FOXA stock opened at $66.25 on Wednesday. The stock has a market cap of $29.41 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.49 and a beta of 0.51. FOX has a 1 year low of $45.78 and a 1 year high of $67.22. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $62.51 and a 200 day simple moving average of $58.77.

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

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.