FOX (NASDAQ:FOXA – Get Free Report)‘s stock had its “buy” rating reissued by analysts at Guggenheim in a report issued on Wednesday, Benzinga reports. They presently have a $85.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 32.30% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Weiss Ratings lowered FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Barclays lowered their target price on FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. Wells Fargo & Company raised FOX from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $65.00 to $80.00 in a report on Friday, August 14th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $80.00 price objective on shares of FOX in a report on Friday, August 14th. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.35.
Get Our Latest Analysis on FOX
FOX Stock Performance
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the company earned $1.27 EPS. FOX’s revenue for the quarter was up 28.1% on a year-over-year basis. As a group, sell-side analysts anticipate that FOX will post 5.94 EPS for the current fiscal year.
Insider Buying and Selling at FOX
In other FOX news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, for a total transaction 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 approximately $96,059,391.89. This represents a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.89% of the stock is currently owned by company insiders.
Institutional Trading of FOX
Several institutional investors and hedge funds have recently made changes to their positions in FOXA. Geode Capital Management LLC lifted its stake in shares of FOX by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after purchasing an additional 29,923 shares during the period. Squarepoint Ops LLC increased its holdings in FOX by 12.4% in the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock valued at $58,805,000 after purchasing an additional 124,143 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in FOX by 2.6% in the second quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock valued at $50,429,000 after purchasing an additional 24,511 shares during the last quarter. Junto Capital Management LP acquired a new position in FOX in the second quarter valued at about $34,773,000. Finally, SG Americas Securities LLC lifted its stake in FOX by 299.8% in the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock valued at $29,890,000 after buying an additional 383,782 shares during the period. Institutional investors own 52.52% of the company’s stock.
FOX Company Profile
Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.
Fox’s businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.
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