FOX (NASDAQ:FOX) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of FOX (NASDAQ:FOX) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Separately, Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $75.00.

FOX Stock Performance

Shares of FOX stock opened at $50.56 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The firm has a market cap of $21.24 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.38 and a beta of 0.57. The firm has a 50 day simple moving average of $55.08 and a 200 day simple moving average of $57.23. FOX has a fifty-two week low of $44.08 and a fifty-two week high of $68.18.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Sell-side analysts predict that FOX will post 4.78 earnings per share for the current fiscal year.

Institutional Trading of FOX

Several large investors have recently made changes to their positions in FOX. Brown Brothers Harriman & Co. raised its stake in FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after buying an additional 475 shares during the period. Versant Capital Management Inc grew its stake in FOX by 42.3% in the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after acquiring an additional 251 shares during the period. Geneos Wealth Management Inc. grew its stake in FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $83,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of FOX by 130.2% during the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after acquiring an additional 1,301 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX News Roundup

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Wolfe Research turned more bullish on Fox Corporation (FOX), with a report saying the firm now sees stronger long-term sales growth potential. That kind of upgrade can lift investor sentiment and support the stock. Article Title
• Neutral Sentiment: Fox continued to promote entertainment and lifestyle segments tied to its Fox News and Fox-branded video content, including coverage of Landman, Taylor Swift, Greg Gutfeld, and other topical stories. These items help keep engagement high, but they do not appear to be material catalysts for the stock. Article Title
• Neutral Sentiment: Additional Fox News political, sports, and world headlines — including coverage of Letitia James, CDC parasite concerns, Alex Ovechkin, and WNBA debate — are broad audience drivers, but they do not directly change Fox Corporation’s fundamentals in the near term. Article Title

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.