FOX (NASDAQ:FOXA) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of FOX (NASDAQ:FOXA) from a buy rating to a hold rating in a report issued on Monday morning.

Other equities analysts also recently issued reports about the stock. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Bank of America increased their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Cfra reaffirmed a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Loop Capital increased their price objective on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, FOX currently has an average rating of “Hold” and an average target price of $44.00.

FOX Stock Up 1.2 %

FOXA stock opened at $46.71 on Monday. 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 stock has a market capitalization of $21.33 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The business has a 50-day moving average of $43.24 and a 200-day moving average of $38.95.

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

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. 21.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial acquired a new stake in shares of FOX in the second quarter valued at approximately $51,000. Quest Partners LLC bought a new stake in shares of FOX in the third quarter valued at approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX during the second quarter worth approximately $52,000. Finally, Quarry LP bought a new position in FOX during the 3rd quarter worth $70,000. 52.52% of the stock is owned by institutional investors.

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.