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

FOX (NASDAQ:FOXA) had its price objective upped by Loop Capital from $62.00 to $64.00 in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on FOXA. Barclays decreased their target price on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut their target price on shares of FOX from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a research note on Monday, April 7th. UBS Group dropped their price objective on shares of FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, FOX has an average rating of “Hold” and an average target price of $52.71.

FOX Stock Up 1.5%

Shares of NASDAQ FOXA opened at $55.46 on Tuesday. FOX has a 12-month low of $32.45 and a 12-month high of $58.74. The stock has a market cap of $25.15 billion, a PE ratio of 11.88, a P/E/G ratio of 1.27 and a beta of 0.51. 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 has a 50-day moving average of $51.27 and a 200 day moving average of $50.19.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the company earned $1.40 EPS. FOX’s revenue was up 26.8% compared to the same quarter last year. As a group, sell-side analysts predict that FOX will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.77% of the stock is currently owned by insiders.

Institutional Trading of FOX

Hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its stake 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 worth $33,000 after acquiring an additional 368 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of FOX by 25.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after acquiring an additional 23,704 shares during the period. Park Avenue Securities LLC lifted its stake in shares of FOX by 32.4% in the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after acquiring an additional 3,787 shares during the period. Brookstone Capital Management acquired a new stake in shares of FOX in the 4th quarter worth $492,000. Finally, Franklin Resources Inc. lifted its stake in shares of FOX by 108.4% in the 3rd quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock worth $7,369,000 after acquiring an additional 92,244 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Company Profile

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.