FOX (NASDAQ:FOXA) Price Target Raised to $52.00

FOX (NASDAQ:FOXA) had its price objective boosted by Barclays from $45.00 to $52.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. UBS Group dropped their price target on FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. Finally, Morgan Stanley boosted their price objective on FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average price target of $52.71.

FOX Stock Up 5.4%

Shares of NASDAQ FOXA opened at $55.24 on Tuesday. FOX has a one year low of $32.45 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The business’s fifty day moving average price is $51.27 and its 200-day moving average price is $50.06. The stock has a market capitalization of $25.05 billion, a PE ratio of 11.83, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, equities research analysts anticipate that FOX will post 4.38 EPS for the current year.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently bought and sold shares of the stock. Elequin Capital LP purchased a new stake in FOX during the 1st quarter valued at about $63,000. Northwest & Ethical Investments L.P. lifted its holdings in FOX by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 27,895 shares of the company’s stock worth $1,579,000 after buying an additional 8,248 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in FOX in the 1st quarter worth approximately $227,000. Wealthedge Investment Advisors LLC purchased a new stake in FOX in the 1st quarter worth approximately $480,000. Finally, Ethic Inc. lifted its holdings in FOX by 9.8% in the 1st quarter. Ethic Inc. now owns 10,964 shares of the company’s stock worth $612,000 after buying an additional 975 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.