FOX (NASDAQ:FOXA) Stock Price Expected to Rise, UBS Group Analyst Says

FOX (NASDAQ:FOXA) had its price objective lifted by stock analysts at UBS Group from $50.00 to $63.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 14.30% from the company’s previous close.

Several other equities analysts have also recently issued reports on FOXA. Citigroup boosted their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Morgan Stanley increased their price target on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.00.

FOX Stock Performance

Shares of NASDAQ:FOXA traded up $0.42 during trading on Thursday, hitting $55.12. The stock had a trading volume of 223,175 shares, compared to its average volume of 3,413,127. The stock has a 50-day simple moving average of $49.47 and a two-hundred day simple moving average of $44.60. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76. FOX has a 12-month low of $28.28 and a 12-month high of $55.56. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities research analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Transactions at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several institutional investors have recently made changes to their positions in FOXA. Pacer Advisors Inc. grew its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares during the period. Norges Bank purchased a new position in FOX during the fourth quarter worth about $132,161,000. Amundi increased its position in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock valued at $119,006,000 after acquiring an additional 219,380 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of FOX by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock valued at $117,458,000 after acquiring an additional 37,505 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of FOX by 56.1% in the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after acquiring an additional 851,127 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.