Fox Corporation (NASDAQ:FOXA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have earned an average rating of “Hold” from the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $53.53.

A number of brokerages have recently commented on FOXA. Loop Capital increased their price objective on FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Morgan Stanley increased their target price on FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. Barclays restated an “outperform” rating on shares of FOX in a report on Tuesday, May 13th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Finally, Cowen restated a “hold” rating on shares of FOX in a report on Tuesday, May 13th.

Insider Activity

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

Several institutional investors have recently bought and sold shares of FOXA. WealthTrak Capital Management LLC bought a new position in FOX during the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. raised its holdings in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares in the last quarter. Hemington Wealth Management raised its holdings in FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after buying an additional 359 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in FOX by 61.5% during 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 in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $56.21 on Friday. FOX has a one year low of $34.35 and a one year high of $58.74. The stock has a fifty day moving average of $54.09 and a 200-day moving average of $52.56. The company has a market capitalization of $25.27 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, equities analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

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.