Analysts Set Fox Corporation (NASDAQ:FOXA) PT at $73.56

Fox Corporation (NASDAQ:FOXA) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $73.5625.

FOXA has been the subject of several recent research reports. Wolfe Research upgraded shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price for the company in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $79.00 price target on shares of FOX in a research note on Tuesday, May 12th. Barclays reduced their price objective on FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Finally, UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th.

FOX Stock Up 1.4%

Shares of FOX stock opened at $57.62 on Thursday. FOX has a 1 year low of $48.34 and a 1 year high of $76.39. The firm has a market cap of $24.21 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.64 and a beta of 0.54. The company has a 50-day moving average of $59.55 and a 200 day moving average of $62.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.02 by $0.30. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. FOX’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, sell-side analysts anticipate that FOX will post 4.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in FOX by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after purchasing an additional 29,923 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after buying an additional 762,645 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of FOX in the fourth quarter worth approximately $67,467,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of FOX by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 572,145 shares of the company’s stock valued at $41,807,000 after buying an additional 16,716 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of FOX by 299.8% during the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock valued at $29,890,000 after buying an additional 383,782 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.