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

Fox Corporation (NASDAQ:FOXA) has received an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $73.5625.

FOXA has been the subject of a number of analyst reports. Seaport Research Partners reissued a “buy” rating and set a $61.00 target price on shares of FOX in a research note on Tuesday, June 16th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a “buy” rating in a research note on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Barclays lowered their target price 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.

Institutional Investors Weigh In On FOX

Institutional investors have recently bought and sold shares of the stock. Private Trust Co. NA increased 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 acquiring an additional 187 shares during the period. Parallel Advisors LLC raised its holdings in FOX by 9.2% during the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after purchasing an additional 214 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position 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 purchasing an additional 229 shares during the period. Venturi Wealth Management LLC lifted its position in FOX by 3.5% in the fourth quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock worth $505,000 after purchasing an additional 232 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

FOXA stock opened at $55.99 on Thursday. FOX has a 1 year low of $48.34 and a 1 year high of $76.39. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.57 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The stock’s fifty day moving average is $59.77 and its two-hundred day moving average is $62.49.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. On average, research analysts predict that FOX will post 4.94 EPS 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.