FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Guggenheim Analyst Says

FOX (NASDAQ:FOXA) had its price objective raised by Guggenheim from $55.00 to $60.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently commented on FOXA. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays raised their price target on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday. Loop Capital boosted their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their target price on FOX from $42.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $52.79 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 1.25 and a beta of 0.76. The business’s 50-day simple moving average is $48.92 and its 200-day simple moving average is $44.09. FOX has a 52 week low of $28.28 and a 52 week high of $55.56.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, equities research analysts expect that FOX will post 4.12 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is 13.20%.

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of FOX by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares during the period. Amundi increased its stake in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock worth $119,006,000 after purchasing an additional 219,380 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of FOX by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock worth $117,458,000 after purchasing an additional 37,505 shares during the period. KBC Group NV increased its stake in shares of FOX by 56.1% during the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after purchasing an additional 851,127 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the period. Institutional investors own 52.52% of the company’s stock.

About FOX

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.