Shares of Fox Corporation (NASDAQ:FOX – Get Free Report) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $58.00 and traded as high as $60.23. FOX shares last traded at $59.63, with a volume of 1,356,608 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on FOX shares. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a research report on Friday, July 10th. Wolfe Research set a $93.00 price target on shares of FOX in a research note on Thursday, August 20th. Finally, Citigroup restated a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, FOX currently has an average rating of “Buy” and a consensus price target of $79.50.
Check Out Our Latest Research Report on FOX
FOX Price Performance
The stock has a 50 day moving average of $58.00 and a 200-day moving average of $55.91. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 3.79. The company has a market cap of $25.02 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.39 and a beta of 0.66.
FOX (NASDAQ:FOX – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.48. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.32 billion. FOX had a return on equity of 23.96% and a net margin of 11.30%. Equities analysts predict that Fox Corporation will post 6.26 earnings per share for the current year.
Insider Activity
In other news, CEO Lachlan Murdoch bought 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.06% of the stock is currently owned by insiders.
Hedge Funds Weigh In On FOX
Several hedge funds and other institutional investors have recently bought and sold shares of FOX. Versant Capital Management Inc boosted its holdings in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after acquiring an additional 251 shares during the last quarter. Covestor Ltd increased its stake in shares of FOX by 102.0% in the third quarter. Covestor Ltd now owns 1,289 shares of the company’s stock worth $73,000 after acquiring an additional 651 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of FOX during the second quarter worth $70,000. Glenmede Trust Co. NA raised its holdings in shares of FOX by 143.9% during the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock worth $143,000 after purchasing an additional 1,591 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of FOX by 27.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock worth $151,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.
About FOX
Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.
The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.
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