Fox Corporation (NASDAQ:FOXA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Fox Corporation (NASDAQ:FOXA) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $73.6250.

A number of research analysts have weighed in on the company. Barclays increased their price target on FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. UBS Group set a $87.00 target price on FOX in a research note on Friday, December 19th. Citigroup raised their price target on FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Morgan Stanley lifted their price target on FOX from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company increased their price objective on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 31st.

FOX Price Performance

FOX stock opened at $73.07 on Friday. The stock has a market capitalization of $32.44 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.63 and a beta of 0.50. FOX has a 12-month low of $46.42 and a 12-month high of $74.67. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. The firm’s 50-day moving average is $67.71 and its two-hundred day moving average is $61.28.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that FOX will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 138,397 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the completion of the transaction, the chief financial officer directly owned 180,556 shares of the company’s stock, valued at $12,014,196.24. This trade represents a 43.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $59.26, for a total transaction of $5,926,000.00. Following the completion of the sale, the chairman directly owned 1,100,862 shares of the company’s stock, valued at $65,237,082.12. The trade was a 8.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 454,817 shares of company stock worth $29,490,590 in the last ninety days. 19.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FOX

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC increased its holdings in FOX by 9.2% in the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock valued at $160,000 after buying an additional 214 shares during the last quarter. Greenleaf Trust grew its position in shares of FOX by 3.8% in the 3rd quarter. Greenleaf Trust now owns 6,198 shares of the company’s stock worth $391,000 after acquiring an additional 225 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of FOX by 27.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after acquiring an additional 229 shares during the last quarter. Captrust Financial Advisors raised its position in shares of FOX by 6.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock valued at $314,000 after acquiring an additional 327 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of FOX by 0.9% during the 2nd quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock valued at $2,393,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.