Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of “Hold” from Analysts

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

FOXA has been the topic of several recent research reports. Morgan Stanley lifted their price target on FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 13th. Guggenheim reissued a “buy” rating and issued a $62.00 target price (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cfra Research downgraded FOX from a “moderate buy” rating to a “hold” rating in a research report on Friday, June 27th. Loop Capital raised their price target on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Barclays reissued an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares of the company’s stock, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of hedge funds have recently made changes to their positions in FOXA. Greenleaf Trust grew its stake in FOX by 3.1% in the 1st quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock valued at $384,000 after buying an additional 205 shares during the last quarter. DnB Asset Management AS grew its position in shares of FOX by 0.6% in the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after purchasing an additional 245 shares during the last quarter. Allworth Financial LP increased its stake in shares of FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after purchasing an additional 280 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in FOX by 0.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock worth $2,823,000 after purchasing an additional 293 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in FOX by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company’s stock valued at $1,444,000 after purchasing an additional 305 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

NASDAQ FOXA opened at $55.46 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.51. The business has a 50 day simple moving average of $55.41 and a 200 day simple moving average of $53.37. FOX has a 52-week low of $36.09 and a 52-week high of $58.74.

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