FOX (NASDAQ:FOXA) Price Target Lowered to $65.00 at Wells Fargo & Company

FOX (NASDAQ:FOXA) had its price objective decreased by equities research analysts at Wells Fargo & Company from $71.00 to $65.00 in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.08% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. UBS Group restated a “neutral” rating on shares of FOX in a report on Monday, June 15th. JPMorgan Chase & Co. lifted their target price on FOX from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Barclays lowered their price objective on FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Seaport Research Partners reissued a “buy” rating and issued a $61.00 target price on shares of FOX in a research note on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $79.00 price target on shares of FOX in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.73.

FOX Price Performance

Shares of FOX stock opened at $56.48 on Monday. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $61.10 and a two-hundred day moving average price of $63.49. The stock has a market capitalization of $23.73 billion, a P/E ratio of 14.90, a PEG ratio of 1.61 and a beta of 0.54.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. FOX’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.10 EPS. Equities analysts expect that FOX will post 4.93 earnings per share for the current year.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FWL Investment Management LLC bought a new stake in FOX during the third quarter worth about $26,000. Elyxium Wealth LLC bought a new stake in FOX during the 4th quarter worth approximately $27,000. CYBER HORNET ETFs LLC bought a new position in FOX in the 2nd quarter valued at $35,000. Rosenberg Matthew Hamilton boosted its stake in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after purchasing an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in FOX in the third quarter worth $51,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.