Analysts Set Fox Co. (NASDAQ:FOXA) Price Target at $52.71

Fox Co. (NASDAQ:FOXA) has been given a consensus recommendation of “Hold” by the twenty analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $52.71.

Several research firms recently weighed in on FOXA. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and raised their target price for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Cowen reaffirmed a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Wolfe Research cut shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a research note on Monday, April 7th. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of FOX in a research note on Tuesday, March 25th. Finally, Loop Capital raised their target price on shares of FOX from $62.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, May 13th.

Insider Activity

In other FOX 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 $63,849,832.54. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WealthTrak Capital Management LLC bought a new position in FOX during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings 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. bought a new position in FOX during the 4th quarter worth about $28,000. Hemington Wealth Management grew its holdings 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 grew its holdings 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 currently owned by institutional investors.

FOX Trading Down 0.5%

Shares of FOXA stock opened at $55.81 on Friday. FOX has a 52-week low of $32.51 and a 52-week high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a market capitalization of $25.09 billion, a PE ratio of 11.95, a PEG ratio of 1.27 and a beta of 0.51. The stock has a fifty day simple moving average of $51.41 and a two-hundred day simple moving average of $50.50.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.40 EPS. On average, 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.