FOX (NASDAQ:FOXA - Free Report) had its target price boosted by Loop Capital from $48.00 to $55.00 in a research report released on Wednesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.
Other research analysts have also recently issued research reports about the company. Morgan Stanley raised their price target on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. TD Cowen lifted 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, November 5th. Seaport Res Ptn lowered shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 9th. Barclays raised their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. Finally, UBS Group upped their target price on FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, November 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.47.
Check Out Our Latest Analysis on FOXA
FOX Stock Performance
Shares of FOXA stock traded up $0.36 during trading hours on Wednesday, reaching $49.43. 7,955,929 shares of the company's stock were exchanged, compared to its average volume of 3,133,865. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company's 50 day moving average is $44.83 and its two-hundred day moving average is $40.39. The company has a market cap of $22.58 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. FOX has a 1 year low of $28.28 and a 1 year high of $50.63.
FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business's revenue was up 11.1% on a year-over-year basis. Equities research analysts anticipate that FOX will post 3.94 EPS for the current fiscal year.
Insider Activity
In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last three months. Corporate insiders own 21.77% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in FOX in the 3rd quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX during the 2nd quarter valued at approximately $52,000. Quarry LP acquired a new position in shares of FOX in the 3rd quarter valued at approximately $70,000. Transamerica Financial Advisors Inc. purchased a new position in shares of FOX during the 3rd quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of FOX in the third quarter worth $141,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.
About FOX
(
Get Free Report)
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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