FOX (NASDAQ:FOXA) Earns “Buy” Rating from The Goldman Sachs Group

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $42.00 price target on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 21.88% from the stock’s previous close.

FOXA has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $40.00 in a report on Thursday, May 9th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Barclays raised their price target on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, May 13th. Finally, Macquarie boosted their price target on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.38.

FOX Stock Up 0.3 %

Shares of FOXA traded up $0.09 during midday trading on Monday, hitting $34.46. The stock had a trading volume of 319,377 shares, compared to its average volume of 3,177,660. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The company has a 50 day simple moving average of $33.22 and a two-hundred day simple moving average of $31.39. FOX has a twelve month low of $28.28 and a twelve month high of $35.40.

FOX (NASDAQ:FOXA) last announced its earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, analysts anticipate that FOX will post 3.33 EPS for the current year.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FOX

Several institutional investors have recently made changes to their positions in FOXA. DekaBank Deutsche Girozentrale raised its holdings in FOX by 13.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,265 shares of the company’s stock valued at $2,356,000 after acquiring an additional 9,130 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of FOX in the first quarter worth $204,000. PGGM Investments raised its stake in FOX by 4.7% in the first quarter. PGGM Investments now owns 38,460 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,741 shares in the last quarter. Swedbank AB bought a new stake in FOX during the first quarter worth about $4,466,000. Finally, Plato Investment Management Ltd acquired a new stake in FOX during the first quarter worth about $802,000. 52.52% of the stock is currently 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.