FOX's (FOXA) Neutral Rating Reaffirmed at Macquarie

FOX (NASDAQ:FOXA - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at Macquarie in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $43.00 price objective on the stock. Macquarie's target price indicates a potential downside of 1.38% from the company's previous close.

A number of other research firms have also commented on FOXA. 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. Barclays increased their target price on FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Evercore ISI lifted their price target on FOX from $33.00 to $38.00 and gave the company an "in-line" rating in a report on Wednesday, August 7th. Guggenheim increased their price objective on shares of FOX from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of FOX from $41.00 to $42.00 and gave the company a "neutral" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $44.00.

FOX Price Performance

Shares of NASDAQ FOXA traded up $0.60 during midday trading on Tuesday, reaching $43.60. 7,832,659 shares of the company traded hands, compared to its average volume of 2,984,395. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. 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 stock's 50-day simple moving average is $41.39 and its 200-day simple moving average is $37.34. The firm has a market cap of $20.07 billion, a PE ratio of 10.69, a PEG ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. As a group, equities analysts anticipate that FOX will post 3.69 earnings per share for the current fiscal year.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FOX

Several large investors have recently bought and sold shares of the company. Bessemer Group Inc. grew its holdings in shares of FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company's stock valued at $103,000 after buying an additional 326 shares during the period. Crossmark Global Holdings Inc. grew its stake in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after acquiring an additional 385 shares during the period. Raymond James Trust N.A. raised its position in shares of FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock worth $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock worth $1,249,000 after purchasing an additional 451 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of FOX by 0.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company's stock valued at $1,695,000 after purchasing an additional 453 shares in the last quarter. 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.