FOX (NASDAQ:FOXA) Upgraded at Bank of America

Bank of America upgraded shares of FOX (NASDAQ:FOXA) from an underperform rating to a buy rating in a report released on Friday, Marketbeat reports. The firm currently has $85.00 target price on the stock, up from their previous target price of $54.00.

A number of other equities research analysts have also recently issued reports on the company. Rothschild & Co Redburn set a $71.00 target price on FOX and gave the company a “buy” rating in a research note on Friday, July 10th. Fox Advisors set a $95.00 price target on shares of FOX in a research report on Monday, September 14th. Wells Fargo & Company upgraded shares of FOX from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $80.00 in a research report on Friday, August 14th. Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Citizens Jmp assumed coverage on shares of FOX in a research report on Monday, September 14th. They issued a “market outperform” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.12.

FOX Price Performance

NASDAQ:FOXA opened at $64.15 on Friday. The firm has a market capitalization of $26.92 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.14 and a beta of 0.60. The stock has a 50 day moving average of $65.26 and a 200-day moving average of $61.95. FOX has a 52 week low of $48.34 and a 52 week high of $76.39. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.27 EPS. Analysts predict that FOX will post 5.94 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s dividend payout ratio (DPR) is currently 15.14%.

Insiders Place Their Bets

In other FOX news, CEO Lachlan Murdoch bought 149,934 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer directly owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 20.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB acquired a new position in shares of FOX in the third quarter worth about $44,000. Elevation Wealth Partners LLC raised its holdings in shares of FOX by 811.0% during the third quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock valued at $57,000 after acquiring an additional 811 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of FOX by 2,503.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after acquiring an additional 1,477 shares during the period. Wilkerson Advisory Group LLC raised its holdings in shares of FOX by 50.6% during the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $84,000 after acquiring an additional 482 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of FOX by 20.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after acquiring an additional 251 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Bank of America upgraded Fox Corporation (FOXA) to “Buy” from “Underperform” and raised its price target to $85 from $54. The bank expects the Roku acquisition to strengthen Fox’s growth outlook and generate approximately $700 million in additional annual earnings by 2028. Fox upgraded to Buy at Bank of America as Roku deal boosts growth outlook
• Positive Sentiment: Fox’s acquisition of Roku gives it a direct platform for distributing programming to viewers, potentially improving the reach and monetization of major content such as Sunday NFL games. Why Fox Can Finally Breathe a Sigh of Relief With Roku Deal—and Why the NFL Can’t
• Positive Sentiment: Options activity was notably bullish: investors bought 6,021 FOX call contracts, more than double the average volume of 2,759. This suggests increased speculative interest in further upside, though options activity is not a guarantee of future performance.
• Positive Sentiment: Fox received additional positive attention from a Zacks upgrade, with commentary suggesting the stock may have been undervalued relative to earnings estimates and intrinsic value. Fox Wins A Zacks Upgrade
• Neutral Sentiment: Reports indicate that Fox has officially acquired Roku, although some analyst commentary still describes the transaction as pending. The strategic benefits are positive, but execution, integration costs, and the ability to convert Roku’s platform into sustained earnings remain key considerations. FOX OFFICIALLY ACQUIRES ROKU
• Negative Sentiment: Fox recently traded below its 200-day moving average, a technical warning that may limit near-term momentum despite the stronger fundamental outlook. FOX Share Price Crosses Below 200-Day Moving Average

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.