FOX (NASDAQ:FOXA) Price Target Raised to $50.00

FOX (NASDAQ:FOXA) had its target price increased by equities research analysts at Barclays from $39.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 6.09% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Morgan Stanley boosted their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Finally, Guggenheim raised their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.19.

FOX Stock Down 2.4 %

NASDAQ:FOXA opened at $53.24 on Wednesday. The firm has a market cap of $24.32 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $55.56. The firm has a 50-day simple moving average of $48.79 and a two-hundred day simple moving average of $44.03.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. Analysts predict that FOX will post 4.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of FOX during the 3rd quarter worth approximately $546,000. Invst LLC purchased a new stake in shares of FOX during the 3rd quarter worth approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of FOX during the 3rd quarter worth approximately $2,867,000. Finally, Park Avenue Securities LLC raised its holdings in FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after buying an additional 3,787 shares during the period. 52.52% of the stock is owned by hedge funds and other 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.