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

Fox Corporation (NASDAQ:FOXA) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $75.0667.

Several research analysts recently commented on FOXA shares. Fox Advisors set a $97.00 target price on shares of FOX in a research note on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Evercore ISI boosted their price objective 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. TD Cowen reaffirmed a “hold” rating on shares of FOX in a research note on Friday, October 31st. Finally, Barclays raised their target price on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 29,897 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the sale, the insider owned 35,978 shares of the company’s stock, valued at $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction on Friday, October 31st. The shares were sold at an average price of $64.36, for a total transaction of $1,143,484.12. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 454,817 shares of company stock valued at $29,490,590 in the last 90 days. 19.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FOXA. Parallel Advisors LLC lifted its position in shares of FOX by 9.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after purchasing an additional 214 shares during the period. Greenleaf Trust raised its stake in FOX by 3.8% in the third quarter. Greenleaf Trust now owns 6,198 shares of the company’s stock worth $391,000 after buying an additional 225 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in FOX by 27.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock worth $67,000 after buying an additional 229 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after buying an additional 257 shares during the period. Finally, Captrust Financial Advisors boosted its position in FOX by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock valued at $314,000 after acquiring an additional 327 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Up 1.0%

Shares of FOXA stock opened at $72.70 on Thursday. The business has a 50-day moving average of $70.39 and a 200 day moving average of $63.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. FOX has a 1-year low of $46.42 and a 1-year high of $76.39. The stock has a market capitalization of $32.27 billion, a PE ratio of 16.34, a P/E/G ratio of 1.61 and a beta of 0.50.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that FOX will post 4.38 earnings per share for the current year.

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.