FOX (NASDAQ:FOXA) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

FOX (NASDAQ:FOXA) had its price objective raised by analysts at The Goldman Sachs Group from $51.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 15.08% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group lifted their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Loop Capital lifted their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.87.

FOX Stock Performance

FOXA stock opened at $49.53 on Thursday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. FOX has a twelve month low of $28.28 and a twelve month high of $50.63. The business’s fifty day moving average is $45.14 and its 200-day moving average is $40.55. The company has a market cap of $22.62 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

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

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders sold a total of 469,352 shares of company stock worth $20,822,072 in the last three months. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in FOX by 0.4% during the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after purchasing an additional 1,178 shares during the period. Franklin Resources Inc. lifted its stake in shares of FOX by 108.4% during the 3rd quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock worth $7,369,000 after buying an additional 92,244 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of FOX by 24.6% during the 3rd quarter. Tidal Investments LLC now owns 33,672 shares of the company’s stock worth $1,425,000 after buying an additional 6,658 shares during the period. World Investment Advisors LLC acquired a new position in FOX in the 3rd quarter valued at about $3,587,000. Finally, Invst LLC bought a new position in FOX in the 3rd quarter valued at about $740,000. 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.