FOX (NASDAQ:FOXA) Price Target Raised to $63.00

FOX (NASDAQ:FOXA) had its price target increased by UBS Group from $61.00 to $63.00 in a research report released on Tuesday, MarketBeat.com reports. They currently have a buy rating on the stock.

FOXA has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Wells Fargo & Company cut their price target on FOX from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Loop Capital increased their price objective on FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley increased their price objective on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.71.

FOX Price Performance

FOX stock opened at $55.46 on Tuesday. FOX has a 12 month low of $32.45 and a 12 month 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 has a 50 day simple moving average of $51.27 and a 200-day simple moving average of $50.19. The stock has a market capitalization of $25.15 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

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

Insider Transactions at FOX

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

Hedge Funds Weigh In On FOX

Several hedge funds and other institutional investors have recently modified their holdings of FOXA. WealthTrak Capital Management LLC acquired a new position in shares of FOX in the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the 4th quarter worth approximately $28,000. Hemington Wealth Management lifted its position in FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after acquiring an additional 359 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 249 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.