Fox Corporation (NASDAQ:FOXA) Receives $70.50 Consensus Price Target from Brokerages

Shares of Fox Corporation (NASDAQ:FOXA) have received an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $70.50.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Guggenheim increased their target price on shares of FOX from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Barclays lifted their price target on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, October 31st. TD Cowen increased their price objective on FOX from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Friday, October 31st. Finally, UBS Group raised their price objective on FOX from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 31st.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total transaction of $11,132,833.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the completion of the transaction, the chief financial officer directly owned 180,556 shares in the company, valued at approximately $12,014,196.24. This trade represents a 43.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 424,920 shares of company stock worth $27,411,254 in the last quarter. 19.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FWL Investment Management LLC acquired a new stake in FOX during the 3rd quarter valued at $26,000. Hemington Wealth Management grew its holdings in shares of FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after buying an additional 359 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in FOX during the second quarter valued at $35,000. Zions Bancorporation National Association UT acquired a new position in FOX during the first quarter valued at $40,000. Finally, Quantbot Technologies LP purchased a new stake in FOX in the 3rd quarter worth about $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Up 0.9%

FOXA opened at $68.40 on Wednesday. FOX has a one year low of $45.78 and a one year high of $69.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The stock’s fifty day moving average is $62.93 and its 200-day moving average is $58.98. The company has a market capitalization of $30.37 billion, a PE ratio of 15.37, a P/E/G ratio of 1.52 and a beta of 0.51.

FOX (NASDAQ:FOXA) last announced its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.45 earnings per share. On average, equities analysts predict that FOX will post 4.38 EPS for the current fiscal year.

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.