FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Barclays Analyst Says

FOX (NASDAQ:FOXA) had its price objective raised by investment analysts at Barclays from $39.00 to $50.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 6.09% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen boosted their price target 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. The Goldman Sachs Group boosted their price target on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.19.

FOX Stock Down 2.4 %

FOXA opened at $53.24 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.25 and a beta of 0.76. FOX has a twelve month low of $28.28 and a twelve month high of $55.56. The company’s 50-day moving average price is $48.79 and its two-hundred day moving average price is $44.03.

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

Insider Transactions at FOX

In other FOX news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction 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 sale, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Entropy Technologies LP bought a new position in shares of FOX in the 3rd quarter worth about $546,000. Invst LLC bought a new position in shares of FOX in the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FOX in the 3rd quarter worth about $2,867,000. Finally, Park Avenue Securities LLC increased its stake in shares of FOX by 32.4% in the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after acquiring an additional 3,787 shares in the last quarter. 52.52% of the stock is 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.