Fox Co. (NASDAQ:FOXA) Given Average Rating of “Hold” by Analysts

Fox Co. (NASDAQ:FOXA) has earned an average recommendation of “Hold” from the twenty analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $52.71.

Several equities research analysts have commented on the company. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of FOX in a research note on Tuesday, March 25th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Wells Fargo & Company raised their price objective on shares of FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. UBS Group lifted their target price on shares of FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, Barclays reiterated an “outperform” rating on shares of FOX in a report on Tuesday, May 13th.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer now directly owns 133,923 shares of the company’s stock, valued at $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.77% of the stock is currently owned by insiders.

Institutional Trading of FOX

Large investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of FOX by 25.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of FOX in the fourth quarter worth approximately $7,767,000. Captrust Financial Advisors bought a new stake in FOX during the fourth quarter valued at approximately $306,000. Finally, Man Group plc bought a new stake in FOX during the fourth quarter valued at approximately $3,239,000. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $54.73 on Wednesday. FOX has a fifty-two week low of $32.76 and a fifty-two week high of $58.74. The company has a 50 day simple moving average of $51.76 and a two-hundred day simple moving average of $51.50. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 11.72, 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 quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share 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 company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts expect that FOX will post 4.38 EPS for the current fiscal year.

About FOX

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.