UBS Group Lowers FOX (NASDAQ:FOXA) Price Target to $61.00

FOX (NASDAQ:FOXA - Get Free Report) had its target price decreased by equities researchers at UBS Group from $63.00 to $61.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price indicates a potential upside of 27.16% from the company's previous close.

Several other equities research analysts have also issued reports on the company. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Wolfe Research downgraded shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a report on Monday, April 7th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Finally, Moffett Nathanson cut FOX from a "buy" rating to a "neutral" rating and upped their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $50.65.

FOX Trading Down 0.6 %

FOX stock traded down $0.29 during midday trading on Tuesday, reaching $47.97. The stock had a trading volume of 3,921,573 shares, compared to its average volume of 3,386,053. The firm's fifty day simple moving average is $53.51 and its two-hundred day simple moving average is $49.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. FOX has a twelve month low of $30.87 and a twelve month high of $58.74. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the business posted $0.34 EPS. The company's revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was 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 of the company's stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently modified their holdings of FOXA. DnB Asset Management AS raised its position in FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock worth $2,141,000 after purchasing an additional 245 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after buying an additional 249 shares during the period. SRS Capital Advisors Inc. grew its position in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after purchasing an additional 262 shares in the last quarter. US Bancorp DE grew its stake in FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after purchasing an additional 281 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of FOX by 2.8% during the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock worth $524,000 after purchasing an additional 292 shares during the last quarter. 52.52% of the stock is owned by 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.