FOX (NASDAQ:FOXA) Given Buy Rating at Guggenheim

FOX (NASDAQ:FOXA - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Guggenheim in a note issued to investors on Tuesday,Benzinga reports. They presently have a $60.00 price target on the stock. Guggenheim's price target suggests a potential upside of 9.63% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. Bank of America upped their price target 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. StockNews.com cut shares of FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Loop Capital increased their price target on shares of FOX from $48.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. UBS Group raised their price objective on FOX from $50.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Wednesday, February 5th. One equities 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 stock. Based on data from MarketBeat, FOX has a consensus rating of "Hold" and an average target price of $51.13.

Remove Ads

FOX Stock Performance

Shares of FOX stock traded down $0.19 during trading on Tuesday, hitting $54.73. 3,149,344 shares of the company's stock traded hands, compared to its average volume of 3,259,979. The business has a 50-day simple moving average of $53.69 and a 200-day simple moving average of $47.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock has a market capitalization of $24.82 billion, a P/E ratio of 11.72, a PEG ratio of 1.27 and a beta of 0.67. FOX has a 1 year low of $30.02 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, analysts forecast that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of FOXA. Norges Bank purchased a new position in FOX during the 4th quarter worth $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in FOX in the fourth quarter valued at approximately $67,471,000. FMR LLC increased its position in shares of FOX by 240.2% during the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after purchasing an additional 1,330,908 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company's stock valued at $58,716,000 after purchasing an additional 964,737 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock worth $59,174,000 after buying an additional 919,883 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.