Citizens Jmp Upgrades FOX (NASDAQ:FOX) to “Strong-Buy”

FOX (NASDAQ:FOX) was upgraded by investment analysts at Citizens Jmp to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the stock. Citigroup began coverage on shares of FOX in a report on Monday. They set an “outperform” rating for the company. Rothschild & Co Redburn set a $71.00 price target on FOX in a research note on Friday, July 10th. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Fox Advisors set a $95.00 price objective on FOX in a research note on Monday. Finally, Wolfe Research set a $93.00 target price on FOX in a report on Thursday, August 20th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.67.

FOX Stock Performance

Shares of FOX stock opened at $60.34 on Monday. The company’s fifty day moving average price is $55.80 and its 200-day moving average price is $54.86. The stock has a market cap of $25.32 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.58. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. FOX has a 12 month low of $44.08 and a 12 month high of $68.18.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. On average, equities analysts expect that FOX will post 5.99 EPS for the current fiscal year.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently made changes to their positions in FOX. Versant Capital Management Inc boosted its stake in shares of FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after purchasing an additional 251 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in FOX by 4.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock valued at $311,000 after buying an additional 254 shares during the period. Arlington Partners LLC raised its stake in FOX by 12.4% in the second quarter. Arlington Partners LLC now owns 5,054 shares of the company’s stock worth $237,000 after buying an additional 556 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in FOX by 27.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock worth $151,000 after buying an additional 613 shares in the last quarter. Finally, Corient Private Wealth LP lifted its holdings in FOX by 3.5% during the second quarter. Corient Private Wealth LP now owns 22,391 shares of the company’s stock worth $1,049,000 after buying an additional 757 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.