FOX (NASDAQ:FOXA) Stock Rating Upgraded by Zacks Research

FOX (NASDAQ:FOXA) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $80.00 price target on shares of FOX in a research report on Friday, August 14th. Citizens Jmp began coverage on shares of FOX in a research report on Monday, September 14th. They set a “market outperform” rating and a $95.00 price objective on the stock. Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a research note on Friday. Fox Advisors set a $85.00 target price on shares of FOX in a research note on Friday. Finally, Citigroup started coverage on shares of FOX in a report on Monday, September 14th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.12.

FOX Trading Up 2.7%

FOX stock opened at $67.00 on Monday. The firm has a 50 day moving average of $65.39 and a 200 day moving average of $62.06. The firm has a market capitalization of $28.12 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.14 and a beta of 0.60. FOX has a 12-month low of $48.34 and a 12-month high of $76.39. 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 (NASDAQ:FOXA) last released its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the business earned $1.27 EPS. The firm’s revenue was up 28.1% compared to the same quarter last year. As a group, research analysts predict that FOX will post 6.06 earnings per share for the current year.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the acquisition, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in shares of FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after buying an additional 251 shares during the last quarter. Greenleaf Trust lifted its holdings in shares of FOX by 4.4% in the second quarter. Greenleaf Trust now owns 6,295 shares of the company’s stock worth $328,000 after buying an additional 267 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of FOX by 1.1% in the second quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock worth $1,843,000 after buying an additional 389 shares in the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of FOX by 50.6% in the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after buying an additional 482 shares in the last quarter. Finally, Advus Financial Partners LLC boosted its position in shares of FOX by 11.5% during the second quarter. Advus Financial Partners LLC now owns 4,744 shares of the company’s stock worth $247,000 after acquiring an additional 489 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.