FOX’s (FOXA) Neutral Rating Reiterated at Rosenblatt Securities

FOX (NASDAQ:FOXA)‘s stock had its “neutral” rating restated by investment analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They presently have a $34.00 price objective on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 11.84% from the stock’s previous close.

Several other research analysts have also recently weighed in on FOXA. Macquarie boosted their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Wells Fargo & Company decreased their price objective on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.40.

FOX Stock Up 0.2 %

Shares of FOX stock opened at $30.40 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29. The stock has a market capitalization of $14.44 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.39 and a beta of 0.78. FOX has a 52-week low of $28.28 and a 52-week high of $35.40. The company has a 50-day simple moving average of $30.11 and a two-hundred day simple moving average of $30.37.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. FOX had a net margin of 5.75% and a return on equity of 15.81%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, analysts anticipate that FOX will post 3.28 EPS for the current fiscal year.

Institutional Trading of FOX

A number of hedge funds and other institutional investors have recently modified their holdings of FOXA. Raymond James Financial Services Advisors Inc. increased its stake in shares of FOX by 13.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after purchasing an additional 2,440 shares in the last quarter. American Century Companies Inc. grew its stake in FOX by 2.6% during the first quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock valued at $2,210,000 after acquiring an additional 1,428 shares in the last quarter. US Bancorp DE grew its stake in FOX by 34.7% during the first quarter. US Bancorp DE now owns 12,614 shares of the company’s stock valued at $498,000 after acquiring an additional 3,249 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in FOX by 6.4% during the first quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock valued at $974,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in FOX by 196.3% during the first quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock valued at $107,000 after acquiring an additional 1,800 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.