FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

FOX (NASDAQ:FOXA) had its target price upped by equities researchers at Morgan Stanley from $57.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 9.81% from the company’s previous close.

FOXA has been the topic of a number of other reports. The Goldman Sachs Group set a $60.00 price objective on FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective for the company. in a research note on Monday, April 7th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Barclays reduced their price target on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $52.71.

FOX Stock Down 1.1%

FOXA opened at $54.64 on Tuesday. The company has a market capitalization of $24.78 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.27 and a beta of 0.51. 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 firm’s fifty day moving average price is $51.25 and its two-hundred day moving average price is $50.09. FOX has a fifty-two week low of $32.45 and a fifty-two week high of $58.74.

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

Insider Transactions at FOX

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

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in shares of FOX by 108.4% in the third quarter. Franklin Resources Inc. now owns 177,342 shares of the company’s stock valued at $7,369,000 after buying an additional 92,244 shares during the period. Principal Financial Group Inc. increased its position in shares of FOX by 0.4% in the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after purchasing an additional 1,178 shares during the period. Czech National Bank raised its stake in FOX by 4.8% in the fourth quarter. Czech National Bank now owns 47,951 shares of the company’s stock valued at $2,329,000 after purchasing an additional 2,189 shares in the last quarter. Brookstone Capital Management bought a new stake in FOX during the fourth quarter worth about $492,000. Finally, Kathmere Capital Management LLC lifted its position in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after purchasing an additional 431 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.