Fox Co. (NASDAQ:FOXA) Receives Consensus Rating of “Hold” from Analysts

Shares of Fox Co. (NASDAQ:FOXA) have earned a consensus recommendation of “Hold” from the seventeen research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $47.53.

A number of equities research analysts recently commented on FOXA shares. Morgan Stanley lifted their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Guggenheim lifted their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. TD Cowen lifted their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th.

FOX Price Performance

Shares of NASDAQ FOXA opened at $48.19 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a market cap of $22.01 billion, a PE ratio of 11.78, a P/E/G ratio of 1.21 and a beta of 0.75. The business has a 50-day simple moving average of $47.31 and a two-hundred day simple moving average of $42.20. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63.

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

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last three months. 21.77% of the stock is currently owned by corporate insiders.

Institutional Trading of FOX

Several large investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in FOX during the third quarter worth $51,000. Quarry LP acquired a new position in FOX during the third quarter worth $70,000. Versant Capital Management Inc boosted its stake in FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after buying an additional 1,669 shares during the last quarter. Transamerica Financial Advisors Inc. acquired a new position in FOX during the third quarter worth $119,000. Finally, Exchange Traded Concepts LLC acquired a new position in FOX during the third quarter worth $141,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

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.