FOX (NASDAQ:FOXA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

FOX (NASDAQ:FOXA) had its price target raised by JPMorgan Chase & Co. from $49.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.43% from the company’s current price.

Several other equities research analysts also recently issued reports on FOXA. The Goldman Sachs Group lifted their price target on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Guggenheim lifted their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upped their target price on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, UBS Group upped their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.19.

FOX Trading Down 2.4 %

FOX stock opened at $53.24 on Wednesday. The stock has a 50-day moving average price of $48.79 and a 200 day moving average price of $44.03. FOX has a 52 week low of $28.28 and a 52 week high of $55.56. The stock has a market cap of $24.32 billion, a PE ratio of 13.02, a P/E/G ratio of 1.25 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. Equities research analysts predict that FOX will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

A number of large investors have recently modified their holdings of FOXA. SRS Capital Advisors Inc. grew its position in shares of FOX by 91.0% in the 4th 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. bought a new stake in FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp lifted its position in shares of 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 buying an additional 249 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in FOX in the 3rd quarter valued at $51,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.