Fox Corporation (NASDAQ:FOXA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Fox Corporation (NASDAQ:FOXA) has earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $69.9375.

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $70.00 price target on shares of FOX in a research report on Friday, October 31st. Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Wall Street Zen lowered FOX from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. TD Cowen raised their price target on FOX from $53.00 to $55.00 and gave the company a “hold” rating in a report on Friday, October 31st. Finally, Fox Advisors set a $97.00 target price on FOX in a research note on Tuesday, October 28th.

FOX Stock Performance

Shares of FOXA opened at $65.97 on Friday. The business has a 50-day simple moving average of $60.63 and a two-hundred day simple moving average of $56.95. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. FOX has a 52 week low of $44.15 and a 52 week high of $66.64. The stock has a market cap of $29.39 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.47 and a beta of 0.52.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 EPS. On average, analysts expect that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling at FOX

In other news, Director Paul D. Ryan sold 17,767 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $64.36, for a total transaction of $1,143,484.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of FOX stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The SEC filing for this sale provides additional information. 19.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOXA. Syon Capital LLC increased its position in FOX by 60.6% in the third quarter. Syon Capital LLC now owns 15,556 shares of the company’s stock worth $981,000 after purchasing an additional 5,867 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in FOX during the third quarter worth approximately $252,000. Titleist Asset Management LLC purchased a new stake in FOX during the third quarter valued at approximately $854,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of FOX by 23.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock valued at $9,492,000 after purchasing an additional 28,118 shares during the last quarter. Finally, Peak Retirement Planning Inc. boosted its holdings in shares of FOX by 27.2% in the 3rd quarter. Peak Retirement Planning Inc. now owns 29,708 shares of the company’s stock worth $1,873,000 after purchasing an additional 6,360 shares during the period. 52.52% of the stock is currently owned by institutional investors.

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.