FOX (NASDAQ:FOXA) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a buy rating in a research note published on Tuesday morning.

A number of other equities analysts have also commented on FOXA. JPMorgan Chase & Co. raised their price objective on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Loop Capital raised their target price on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Cfra reissued a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays upped their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

FOX Stock Up 2.4 %

Shares of FOX stock opened at $46.90 on Tuesday. FOX has a 12-month low of $28.28 and a 12-month high of $46.97. The firm has a market capitalization of $21.58 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.14 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $41.75 and its 200-day moving average is $37.80.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 335,355 shares of company stock worth $14,244,865. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Several hedge funds have recently modified their holdings of the business. Massmutual Trust Co. FSB ADV boosted its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares during the period. Quest Partners LLC bought a new stake in shares of FOX in the third quarter valued at about $51,000. Friedenthal Financial acquired a new stake in FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new position in FOX during the second quarter valued at about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in FOX in the 1st quarter valued at approximately $66,000. 52.52% of the stock is owned by institutional investors.

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.