Fox Co. (NASDAQ:FOXA) Receives $44.00 Average Price Target from Analysts

Fox Co. (NASDAQ:FOXA) has been given an average recommendation of “Hold” by the eighteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.00.

FOXA has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Rosenblatt Securities increased their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Barclays increased their price objective on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th.

FOX Stock Down 1.6 %

NASDAQ:FOXA opened at $46.08 on Friday. FOX has a 1-year low of $28.28 and a 1-year high of $47.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market cap of $21.05 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company has a 50-day moving average of $43.00 and a 200 day moving average of $38.81.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. As a group, research analysts anticipate that FOX will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Large investors have recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares during the period. Friedenthal Financial purchased a new position in FOX during the second quarter worth approximately $51,000. Quest Partners LLC acquired a new stake in FOX in the third quarter valued at approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the second quarter valued at approximately $52,000. Finally, Quarry LP purchased a new stake in shares of FOX in the third quarter valued at approximately $70,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.