Fox Corporation (NASDAQ:FOXA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have received a consensus rating of “Moderate Buy” from the nineteen research firms that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $70.50.

A number of research analysts have recently commented on FOXA shares. Cowen reissued a “hold” rating on shares of FOX in a research report on Friday, October 31st. Morgan Stanley set a $70.00 price target on shares of FOX in a research note on Friday, October 31st. Barclays boosted their price objective on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Fox Advisors set a $97.00 target price on FOX in a research note on Tuesday, October 28th. Finally, Arete Research upgraded FOX to a “strong-buy” rating in a research note on Tuesday, October 28th.

FOX Price Performance

FOXA stock opened at $66.71 on Friday. The stock’s 50 day moving average price is $61.01 and its 200 day moving average price is $57.38. The firm has a market cap of $29.62 billion, a P/E ratio of 14.99, a PEG ratio of 1.49 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. FOX has a 1 year low of $44.82 and a 1 year high of $67.22.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. On average, sell-side analysts expect that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 138,397 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the sale, the chief financial officer owned 180,556 shares in the company, valued at $12,014,196.24. This represents a 43.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 324,920 shares of company stock valued at $21,485,254. Insiders own 19.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hemington Wealth Management boosted its position in shares of FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the period. CYBER HORNET ETFs LLC bought a new stake in FOX during the 2nd quarter valued at $35,000. Zions Bancorporation National Association UT bought a new stake in FOX during the 1st quarter valued at $40,000. Allworth Financial LP boosted its position in FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after acquiring an additional 280 shares during the period. Finally, TCTC Holdings LLC grew its stake in shares of FOX by 112.5% in the first quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after purchasing an additional 422 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

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.