FOX (NASDAQ:FOXA) Price Target Raised to $50.00 at Guggenheim

FOX (NASDAQ:FOXA - Free Report) had its price objective hoisted by Guggenheim from $45.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also weighed in on the stock. TD Cowen upped their target price on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research report on Tuesday. Loop Capital increased their target price on FOX from $43.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. Barclays raised their price objective on FOX from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. UBS Group boosted their price target on FOX from $44.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Rosenblatt Securities increased their price target on FOX from $37.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $44.00.

FOX Trading Up 1.4 %

Shares of FOX stock traded up $0.60 on Tuesday, reaching $43.60. The company had a trading volume of 7,832,605 shares, compared to its average volume of 2,984,395. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The firm's 50 day moving average price is $41.44 and its two-hundred day moving average price is $37.42. FOX has a 52-week low of $28.28 and a 52-week high of $45.82. The firm has a market cap of $20.07 billion, a PE ratio of 10.66, a PEG ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts' expectations of $3.38 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. Sell-side analysts predict that FOX will post 3.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other FOX news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost 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 in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after acquiring an additional 461 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of FOX in the 2nd quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX in the 2nd quarter worth approximately $52,000. Meeder Asset Management Inc. purchased a new position in FOX during the 1st quarter valued at about $66,000. Finally, Covestor Ltd raised its stake in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company's stock valued at $90,000 after buying an additional 2,128 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

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.