Fox Corporation (NASDAQ:FOXA) Given Average Rating of “Hold” by Brokerages

Shares of Fox Corporation (NASDAQ:FOXA) have earned an average rating of “Hold” from the seventeen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $72.9286.

Several research analysts recently weighed in on FOXA shares. UBS Group set a $64.00 target price on shares of FOX in a report on Tuesday, February 24th. Barclays dropped their target price on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, February 5th. Citigroup upped their target price on shares of FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. upped their target price on shares of FOX from $65.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, TD Cowen upped their target price on shares of FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, February 5th.

FOX Trading Up 0.4%

Shares of FOXA stock opened at $62.94 on Friday. FOX has a 1 year low of $50.03 and a 1 year high of $76.39. The firm has a fifty day moving average price of $60.15 and a 200-day moving average price of $64.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The company has a market cap of $26.77 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 7.72 and a beta of 0.52.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, equities analysts predict that FOX will post 4.6 earnings per share for the current year.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 242,309 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the transaction, the chief operating officer owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. This represents a 40.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. This represents a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,586,871 shares of company stock valued at $91,893,926 in the last ninety days. 19.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FWL Investment Management LLC purchased a new position in shares of FOX during the third quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in shares of FOX during the 4th quarter worth approximately $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of FOX during the 2nd quarter worth approximately $35,000. Rosenberg Matthew Hamilton raised its holdings in shares of FOX by 58.5% during the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of FOX during the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.