Fox Corporation (NASDAQ:FOXA) Receives $73.63 Average PT from Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have received an average rating of “Moderate Buy” from the eighteen research firms that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $73.6250.

FOXA has been the topic of a number of recent analyst reports. Citigroup upped their price objective on FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a research note on Monday. Morgan Stanley increased their price target on shares of FOX from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, December 18th. Barclays boosted their price objective on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of FOX from $79.00 to $87.00 and gave the company a “buy” rating in a report on Friday, December 19th.

FOX Trading Down 0.2%

NASDAQ FOXA opened at $73.70 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $32.72 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.65 and a beta of 0.51. FOX has a 52-week low of $46.42 and a 52-week high of $74.67. The firm has a 50-day moving average price of $67.13 and a 200 day moving average price of $61.11.

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

Insider Buying and Selling at FOX

In other news, Director Paul D. Ryan sold 17,767 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $66.54, for a total value of $9,208,936.38. Following the sale, the chief financial officer owned 180,556 shares of the company’s stock, valued at approximately $12,014,196.24. This represents a 43.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 454,817 shares of company stock worth $29,490,590. 19.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Hedge funds have recently modified their holdings of the company. Junto Capital Management LP acquired a new position in shares of FOX in the first quarter valued at approximately $53,681,000. Ameriprise Financial Inc. grew its stake in FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after acquiring an additional 762,645 shares during the period. AQR Capital Management LLC grew its stake in FOX by 101.6% in the 1st quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company’s stock worth $78,381,000 after acquiring an additional 715,583 shares during the period. New Vernon Capital Holdings II LLC raised its holdings in FOX by 5,560.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 496,495 shares of the company’s stock valued at $28,102,000 after acquiring an additional 487,723 shares during the last quarter. Finally, CSM Advisors LLC purchased a new position in shares of FOX during the 2nd quarter worth $25,787,000. 52.52% of the stock is owned by institutional investors and hedge funds.

About FOX

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.