Guggenheim Boosts FOX (NASDAQ:FOXA) Price Target to $50.00

FOX (NASDAQ:FOXA) had its price target boosted by analysts at Guggenheim from $45.00 to $50.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would indicate a potential upside of 9.94% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Loop Capital boosted their target price on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities increased their price objective 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. Cfra reaffirmed a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Wells Fargo & Company lifted their target price on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment 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. According to data from MarketBeat, FOX presently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Stock Performance

Shares of FOX stock opened at $45.48 on Tuesday. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The firm has a market capitalization of $20.93 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.95 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $41.53 and a two-hundred day simple moving average of $37.48.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results 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 company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. On average, equities analysts forecast that FOX will post 3.7 earnings per share for the current fiscal year.

Insider Activity at FOX

In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 335,355 shares of company stock worth $14,244,865. Company insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of FOX by 176.6% during the second 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 purchased a new stake in shares of FOX during the 2nd quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new position in FOX in the second quarter valued at about $52,000. Meeder Asset Management Inc. purchased a new position in shares of FOX in the 1st quarter worth approximately $66,000. Finally, Covestor Ltd raised its stake in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after acquiring an additional 2,128 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

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.