FOX (NASDAQ:FOXA) Rating Increased to Strong-Buy at Rothschild & Co Redburn

FOX (NASDAQ:FOXA) was upgraded by research analysts at Rothschild & Co Redburn from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

FOXA has been the subject of a number of other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Wells Fargo & Company reduced their price target on FOX from $71.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday. UBS Group reaffirmed a “neutral” rating on shares of FOX in a research report on Monday, June 15th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Seaport Research Partners reiterated a “buy” rating and issued a $61.00 price objective on shares of FOX in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, FOX currently has a consensus rating of “Moderate Buy” and an average price target of $73.56.

FOX Price Performance

Shares of NASDAQ FOXA opened at $54.12 on Friday. The firm has a market cap of $22.74 billion, a PE ratio of 14.28, a PEG ratio of 1.53 and a beta of 0.54. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. FOX has a 1-year low of $48.34 and a 1-year high of $76.39. The company has a fifty day moving average price of $60.19 and a 200 day moving average price of $62.95.

FOX (NASDAQ:FOXA) last released 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 return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the business posted $1.10 EPS. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. Research analysts predict that FOX will post 4.93 earnings per share for the current fiscal year.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA boosted its position in FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock valued at $52,000 after purchasing an additional 187 shares during the last quarter. Parallel Advisors LLC grew its stake in FOX by 9.2% in the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock valued at $160,000 after purchasing an additional 214 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of FOX by 27.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock worth $67,000 after purchasing an additional 229 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of FOX by 3.5% during the 4th quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company’s stock worth $505,000 after purchasing an additional 232 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after purchasing an additional 251 shares in the last quarter. 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.