FOX (NASDAQ:FOXA) Rating Lowered to Hold at StockNews.com

FOX (NASDAQ:FOXA - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

Other equities research analysts have also issued reports about the stock. Morgan Stanley lifted their price target on shares of FOX from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their target price on FOX from $46.00 to $49.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. TD Cowen raised their price target on FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on FOX from $46.00 to $51.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, FOX currently has a consensus rating of "Hold" and a consensus target price of $44.00.

FOX Stock Up 4.3 %

FOX stock traded up $2.01 during midday trading on Tuesday, reaching $49.07. The company's stock had a trading volume of 6,273,535 shares, compared to its average volume of 3,114,021. The company has a market cap of $22.41 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.18 and a beta of 0.77. 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 business has a 50-day simple moving average of $44.68 and a 200-day simple moving average of $40.33. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $49.30.

FOX (NASDAQ:FOXA - Get Free Report) last issued 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 business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. On average, research analysts expect that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Activity

In other FOX news, COO John Nallen sold 182,481 shares of the business's stock in a transaction 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 sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 in the last 90 days. 21.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Entropy Technologies LP purchased a new stake in FOX during the 3rd quarter worth about $546,000. Invst LLC acquired a new position in shares of FOX in the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in FOX in the 3rd quarter worth approximately $2,867,000. Edgestream Partners L.P. raised its holdings in FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company's stock valued at $7,010,000 after acquiring an additional 157,927 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of FOX by 9.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company's stock worth $24,492,000 after purchasing an additional 62,920 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.

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