FOX (NASDAQ:FOXA) Stock Rating Lowered by StockNews.com

FOX (NASDAQ:FOXA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Several other research analysts have also weighed in on the company. Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. TD Cowen lifted their price objective on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Guggenheim boosted their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

FOX Trading Up 0.2 %

NASDAQ FOXA opened at $46.15 on Monday. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.76. FOX has a 52 week low of $28.28 and a 52 week high of $47.58. The stock’s 50 day moving average price is $43.12 and its two-hundred day moving average price is $38.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several large investors have recently made changes to their positions in FOXA. Pacer Advisors Inc. raised its position in FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after purchasing an additional 7,897,710 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after buying an additional 912,250 shares during the last quarter. AXA S.A. boosted its stake in FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after buying an additional 663,089 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its position in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after acquiring an additional 597,450 shares during the last quarter. 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.