Bank of America Reiterates Underperform Rating for FOX (NASDAQ:FOX)

FOX (NASDAQ:FOX)‘s stock had its “underperform” rating reissued by equities research analysts at Bank of America in a research report issued on Wednesday,Benzinga reports. They currently have a $45.00 price objective on the stock, down from their previous price objective of $80.00. Bank of America‘s price target would indicate a potential downside of 13.51% from the stock’s current price.

Several other analysts have also recently commented on the stock. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Wells Fargo & Company cut FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of FOX in a research report on Monday, December 22nd. Finally, UBS Group reiterated a “buy” rating on shares of FOX in a report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and an average price target of $75.00.

FOX Stock Up 4.9%

FOX opened at $52.03 on Wednesday. The firm has a market cap of $22.13 billion, a P/E ratio of 12.51, a PEG ratio of 6.86 and a beta of 0.56. The business’s fifty day simple moving average is $61.50 and its 200 day simple moving average is $58.02. FOX has a 52 week low of $43.18 and a 52 week high of $68.18. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.31. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.06 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. As a group, equities research analysts anticipate that FOX will post 4.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total value of $2,079,336.35. Following the completion of the sale, the insider owned 35,978 shares of the company’s stock, valued at $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP increased its stake in FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after buying an additional 2,827,768 shares during the period. SG Americas Securities LLC lifted its stake in shares of FOX by 2,459.6% in the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after acquiring an additional 396,900 shares in the last quarter. Pinebridge Investments LLC purchased a new position in FOX in the fourth quarter valued at about $13,758,000. Gabelli Funds LLC grew its stake in FOX by 26.4% during the 3rd quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock valued at $30,845,000 after purchasing an additional 112,600 shares in the last quarter. Finally, Andra AP fonden grew its stake in FOX by 8.0% during the 2nd quarter. Andra AP fonden now owns 1,081,700 shares of the company’s stock valued at $55,848,000 after purchasing an additional 80,400 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Short interest plunged ~45% between Jan. 29 and Feb. 13 (from ~20.9M to ~11.45M shares), leaving only ~3.5% of float shorted and a short-interest ratio near 5.5 days — a meaningful decline that reduces downward pressure and increases the chance of short-covering rallies.
• Positive Sentiment: Recent quarterly results showed an earnings and revenue beat (EPS and revenue outperformance reported in early February), supporting the stock’s valuation and investor confidence.
• Neutral Sentiment: High-profile programming and breaking coverage can lift viewership and ad revenue over time — recent Fox News content includes a Zelenskyy interview that may draw audiences. Zelenskyy speaks with Fox News
• Neutral Sentiment: Ongoing heavy coverage of major domestic stories (e.g., the Nancy Guthrie disappearance) can drive incremental traffic; prosecutors visiting the scene and a rising tip count were highlighted in live coverage. Nancy Guthrie disappearance coverage
• Negative Sentiment: Bank of America kept an “underperform” rating and cut its price target to $45 from $80, a negative analyst action that could cap upside and weigh on sentiment. Benzinga: BofA rating/price target note

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.