StockNews.com Upgrades FOX (NASDAQ:FOXA) to Buy

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Friday.

A number of other equities analysts have also issued reports on FOXA. JPMorgan Chase & Co. increased their price target on FOX from $41.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Macquarie reiterated a "neutral" rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Loop Capital raised their price objective on shares of FOX from $43.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. UBS Group boosted their target price on shares of FOX from $44.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Seaport Res Ptn cut shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $44.00.

FOX Stock Performance

FOXA traded up $0.35 during trading hours on Friday, hitting $47.00. The company's stock had a trading volume of 4,230,699 shares, compared to its average volume of 3,079,012. The company has a 50-day simple moving average of $43.87 and a 200 day simple moving average of $39.48. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $21.47 billion, a PE ratio of 11.49, a PEG ratio of 1.19 and a beta of 0.77. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $47.58.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. As a group, sell-side analysts expect that FOX will post 3.94 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company's stock, valued at approximately $52,935,147.10. The trade was 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 stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC bought a new position in FOX during the third quarter valued at about $51,000. Friedenthal Financial acquired a new stake in FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the second quarter worth approximately $52,000. Quarry LP acquired a new position in FOX during the third quarter valued at approximately $70,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of FOX in the third quarter valued at approximately $119,000. Institutional investors and hedge funds 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.

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