Wells Fargo & Company Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $59.00 to $64.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 18.31% from the company’s current price.

FOXA has been the subject of several other reports. TD Cowen lifted their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. The Goldman Sachs Group lifted their price target on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group lifted their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $42.00 to $47.00 and gave the company a “buy” 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 given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.25.

FOX Trading Down 1.0 %

Shares of FOX stock traded down $0.55 during trading hours on Wednesday, hitting $54.10. The company’s stock had a trading volume of 406,512 shares, compared to its average volume of 3,374,029. FOX has a 12 month low of $28.28 and a 12 month high of $55.56. The stock has a 50 day moving average of $48.63 and a 200 day moving average of $43.95. The company has a market capitalization of $24.71 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. Analysts predict that FOX will post 4.12 earnings per share for the current year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 21.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FOX

Institutional investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX in the fourth quarter valued at approximately $28,000. Brooklyn Investment Group lifted its stake in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the last quarter. Quest Partners LLC purchased a new position in FOX in the third quarter valued at approximately $51,000. Quarry LP purchased a new position in FOX in the third quarter valued at approximately $70,000. Finally, Versant Capital Management Inc lifted its stake in FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the last quarter. 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.