Fox Corporation (NASDAQ:FOXA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Fox Corporation (NASDAQ:FOXA) has been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $73.6250.

A number of research analysts have commented on the stock. Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of FOX from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Fox Advisors set a $97.00 price target on shares of FOX in a research report on Tuesday, October 28th. The Goldman Sachs Group raised their price target on shares of FOX from $79.00 to $87.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, UBS Group set a $87.00 price objective on shares of FOX in a research note on Friday, December 19th.

Insiders Place Their Bets

In other FOX news, Director Paul D. Ryan sold 17,767 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $64.36, for a total transaction of $1,143,484.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 29,897 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider owned 35,978 shares in the company, valued at $2,502,269.90. The trade was a 45.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 454,817 shares of company stock worth $29,490,590 over the last ninety days. Insiders own 19.68% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of large investors have recently made changes to their positions in FOXA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of FOX by 246.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,009 shares of the company’s stock worth $4,132,000 after purchasing an additional 51,960 shares during the last quarter. Royal Bank of Canada grew its position in FOX by 26.5% during the 1st quarter. Royal Bank of Canada now owns 303,521 shares of the company’s stock worth $17,179,000 after purchasing an additional 63,538 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in FOX during the 1st quarter worth about $3,328,000. Ardmore Road Asset Management LP raised its stake in shares of FOX by 40.0% during the 1st quarter. Ardmore Road Asset Management LP now owns 420,000 shares of the company’s stock valued at $23,772,000 after buying an additional 120,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of FOX in the 1st quarter valued at about $53,681,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

FOX stock opened at $74.30 on Friday. FOX has a 12-month low of $46.42 and a 12-month high of $74.63. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $66.52 and a 200-day moving average price of $60.79. The firm has a market capitalization of $32.98 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.66 and a beta of 0.51.

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

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.