FOX (NASDAQ:FOXA) Price Target Raised to $74.00

FOX (NASDAQ:FOXA) had its price objective raised by Sanford C. Bernstein from $73.00 to $74.00 in a report published on Tuesday morning. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $80.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Fox Advisors set a $85.00 target price on shares of FOX in a research report on Friday, October 16th. Bank of America raised shares of FOX from an “underperform” rating to a “buy” rating and increased their target price for the stock from $54.00 to $85.00 in a research note on Friday, October 16th. Finally, Seaport Research Partners downgraded shares of FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.16.

FOX Stock Down 2.8%

FOXA stock opened at $67.67 on Tuesday. FOX has a one year low of $48.34 and a one year high of $76.39. The firm has a market cap of $28.40 billion, a PE ratio of 10.77, a PEG ratio of 1.15 and a beta of 0.63. The firm’s 50 day moving average price is $64.88 and its 200-day moving average price is $62.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 3.79.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.52. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.51 earnings per share. On average, equities research analysts anticipate that FOX will post 5.98 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Lachlan Murdoch bought 149,934 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. The trade was a 11.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System grew its holdings in shares of FOX by 17.1% in the third quarter. Maryland State Retirement & Pension System now owns 12,100 shares of the company’s stock valued at $758,000 after purchasing an additional 1,763 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in FOX during the 3rd quarter worth approximately $900,000. Illinois Municipal Retirement Fund acquired a new stake in FOX during the 3rd quarter worth approximately $8,858,000. Lido Advisors LLC boosted its position in FOX by 35.7% in the 3rd quarter. Lido Advisors LLC now owns 5,774 shares of the company’s stock valued at $362,000 after buying an additional 1,518 shares during the period. Finally, Keybank National Association OH purchased a new position in FOX in the 3rd quarter valued at approximately $233,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.