FOX (NASDAQ:FOXA) Stock Price Expected to Rise, UBS Group Analyst Says

FOX (NASDAQ:FOXA) had its target price hoisted by UBS Group from $61.00 to $63.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Loop Capital boosted their target price on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $60.00 target price on shares of FOX in a report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of FOX from $63.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $52.71.

FOX Stock Performance

FOXA stock opened at $55.24 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The business has a 50-day moving average price of $51.27 and a 200 day moving average price of $50.06. The company has a market capitalization of $25.05 billion, a P/E ratio of 11.83, a PEG ratio of 1.27 and a beta of 0.51. FOX has a 1-year low of $32.45 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. As a group, equities research analysts forecast that FOX will post 4.38 EPS for the current fiscal year.

Insider Activity at FOX

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

Institutional Investors Weigh In On FOX

Large investors have recently bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new stake in FOX in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its holdings in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX in the fourth quarter valued at approximately $28,000. Hemington Wealth Management lifted its holdings in FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after acquiring an additional 359 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

About FOX

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.