Zacks Research Downgrades FOX (NASDAQ:FOX) to Hold

FOX (NASDAQ:FOX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings raised shares of FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $75.00.

FOX Stock Up 4.4%

Shares of FOX stock opened at $50.56 on Wednesday. FOX has a one year low of $44.08 and a one year high of $68.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The stock has a fifty day moving average price of $55.08 and a 200 day moving average price of $57.23. The stock has a market cap of $21.24 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.38 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. Analysts predict that FOX will post 4.78 earnings per share for the current year.

Institutional Trading of FOX

A number of large investors have recently bought and sold shares of FOX. Brown Brothers Harriman & Co. raised its stake in FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after acquiring an additional 475 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after purchasing an additional 251 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after purchasing an additional 703 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of FOX during the 4th quarter worth about $83,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of FOX by 130.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $119,000 after purchasing an additional 1,301 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Wolfe Research turned more bullish on Fox Corporation (FOX), with a report saying the firm now sees stronger long-term sales growth potential. That kind of upgrade can lift investor sentiment and support the stock. Article Title
• Neutral Sentiment: Fox continued to promote entertainment and lifestyle segments tied to its Fox News and Fox-branded video content, including coverage of Landman, Taylor Swift, Greg Gutfeld, and other topical stories. These items help keep engagement high, but they do not appear to be material catalysts for the stock. Article Title
• Neutral Sentiment: Additional Fox News political, sports, and world headlines — including coverage of Letitia James, CDC parasite concerns, Alex Ovechkin, and WNBA debate — are broad audience drivers, but they do not directly change Fox Corporation’s fundamentals in the near term. Article Title

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.