FOX (NASDAQ:FOXA) Price Target Cut to $45.00 by Analysts at Barclays

FOX (NASDAQ:FOXA) had its price target lowered by stock analysts at Barclays from $50.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 12.64% from the stock’s current price.

Several other brokerages have also commented on FOXA. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Citigroup raised their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Bank of America raised their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Wolfe Research lowered shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a report on Monday. Finally, Loop Capital raised their price target on shares of FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.06.

FOX Trading Up 8.6 %

FOXA opened at $51.51 on Tuesday. FOX has a 1-year low of $30.02 and a 1-year high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The company has a market cap of $23.36 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The company has a fifty day moving average price of $54.15 and a two-hundred day moving average price of $48.79.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 analysts’ expectations of $4.78 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts predict that FOX will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Sentry Investment Management LLC acquired a new stake in FOX in the first quarter valued at approximately $43,000. Merit Financial Group LLC acquired a new stake in FOX in the first quarter valued at approximately $233,000. Czech National Bank grew its position in FOX by 4.3% in the first quarter. Czech National Bank now owns 50,036 shares of the company’s stock valued at $2,832,000 after acquiring an additional 2,085 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of FOX during the first quarter worth approximately $535,000. Finally, Rhumbline Advisers grew its position in shares of FOX by 5.6% during the first quarter. Rhumbline Advisers now owns 443,431 shares of the company’s stock worth $25,098,000 after buying an additional 23,318 shares in the last quarter. 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.