FOX (NASDAQ:FOXA) Given Buy Rating at Guggenheim

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued on Tuesday,Benzinga reports. They presently have a $60.00 target price on the stock. Guggenheim’s target price would indicate a potential upside of 9.94% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. UBS Group boosted their price target on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Moffett Nathanson cut 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. Finally, Bank of America lifted their target price on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.19.

FOX Price Performance

Shares of FOXA traded up $1.18 during trading hours on Tuesday, reaching $54.57. 333,564 shares of the stock traded hands, compared to its average volume of 3,152,394. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $53.16 and its two-hundred day moving average price is $47.67. The company has a market cap of $24.75 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. FOX has a 52-week low of $30.02 and a 52-week high of $58.74.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. On average, analysts anticipate that FOX will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Institutional investors have recently modified their holdings of the business. WealthTrak Capital Management LLC acquired a new stake in shares of FOX in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. grew its holdings in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds 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.