FOX (NASDAQ:FOXA) Stock Rating Upgraded by JPMorgan Chase & Co.

FOX (NASDAQ:FOXA) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $82.00 target price on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.29% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Barclays cut their price objective on FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Zacks Research lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings lowered shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating on shares of FOX in a research report on Monday, June 15th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $74.31.

FOX Stock Up 3.8%

Shares of NASDAQ FOXA opened at $65.45 on Friday. The company has a market capitalization of $27.50 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.79 and a beta of 0.54. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The company has a 50 day simple moving average of $57.32 and a 200-day simple moving average of $60.37. FOX has a 1 year low of $48.34 and a 1 year high of $76.39.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%.The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. On average, equities research analysts predict that FOX will post 5.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. PFA Pension Forsikringsaktieselskab purchased a new stake in FOX during the 4th quarter worth approximately $67,467,000. Ameriprise Financial Inc. boosted its position in FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after buying an additional 762,645 shares during the period. SG Americas Securities LLC boosted its position in FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock valued at $29,890,000 after buying an additional 383,782 shares during the period. Lazard Asset Management LLC grew its stake in shares of FOX by 624.5% in the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after acquiring an additional 242,321 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of FOX by 150.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock worth $27,601,000 after acquiring an additional 227,209 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.