Fox Corporation (NASDAQ:FOX) Stock Has Average Price Target of $79.50 According to Brokerages

Shares of Fox Corporation (NASDAQ:FOX) have received an average rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $79.50.

Several analysts have recently commented on the company. Citigroup restated a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Citizens Jmp raised FOX to a “strong-buy” rating in a research note on Monday, September 14th. Wolfe Research set a $93.00 price target on FOX in a report on Thursday, August 20th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th.

FOX Stock Up 0.6%

NASDAQ:FOX opened at $60.63 on Thursday. The company has a market cap of $25.57 billion, a PE ratio of 12.87, a P/E/G ratio of 1.39 and a beta of 0.66. The firm’s 50 day simple moving average is $57.93 and its 200 day simple moving average is $55.76. The company has a debt-to-equity ratio of 0.53, a current ratio of 3.79 and a quick ratio of 3.50. FOX has a one year low of $44.08 and a one year high of $68.18.

FOX (NASDAQ:FOX) last released its earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.48. FOX had a net margin of 11.30% and a return on equity of 23.96%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. On average, research analysts anticipate that FOX will post 6.22 earnings per share for the current year.

Insider Activity at FOX

In related news, CEO Lachlan Murdoch purchased 149,934 shares of FOX stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 23.06% of the company’s stock.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after buying an additional 251 shares during the period. AlphaCore Capital LLC purchased a new position in FOX in the 3rd quarter valued at approximately $71,000. Covestor Ltd raised its holdings in FOX by 102.0% during the 3rd quarter. Covestor Ltd now owns 1,289 shares of the company’s stock valued at $73,000 after acquiring an additional 651 shares during the period. Integrated Wealth Concepts LLC bought a new stake in FOX during the 2nd quarter valued at $70,000. Finally, Glenmede Trust Co. NA raised its holdings in FOX by 143.9% during the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock valued at $143,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 26.41% of the company’s stock.

About FOX

Fox Corporation is a U.S. media company that produces and distributes news, sports and entertainment programming. Its operations include the FOX broadcast network, Fox News Media, Fox Sports, FOX Entertainment and Fox Television Stations. The company also owns Tubi, an ad-supported streaming service. Fox Corporation was formed in 2019 after The Walt Disney Company acquired much of 21st Century Fox. The company’s programming and services are primarily aimed at audiences in the United States, with content also distributed to viewers in other markets.