FOX (NASDAQ:FOXA) Stock Rating Lowered by StockNews.com

FOX (NASDAQ:FOXA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Other equities analysts have also recently issued reports about the stock. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie restated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. TD Cowen upped their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Rosenblatt Securities increased their price target on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.00.

FOX Trading Up 0.2 %

NASDAQ FOXA opened at $46.15 on Monday. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. FOX has a twelve month low of $28.28 and a twelve month high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average is $43.12 and its 200 day moving average is $38.90.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that FOX will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FOX

Institutional investors and hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV increased its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Quest Partners LLC bought a new position in FOX during the 3rd quarter valued at $51,000. Friedenthal Financial purchased a new position in FOX during the 2nd quarter worth $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter worth $52,000. Finally, Quarry LP purchased a new stake in shares of FOX in the third quarter valued at about $70,000. 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.