FOX (NASDAQ:FOXA) Given Neutral Rating at Macquarie

Macquarie reissued their neutral rating on shares of FOX (NASDAQ:FOXA) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $43.00 price target on the stock.

A number of other equities research analysts have also issued reports on FOXA. Wells Fargo & Company lifted their target price on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday. Rosenblatt Securities boosted their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Guggenheim raised their price target on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Evercore ISI increased their price objective on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, FOX presently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $43.60 on Tuesday. The stock’s fifty day simple moving average is $41.44 and its 200 day simple moving average is $37.42. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. FOX has a 52-week low of $28.28 and a 52-week high of $45.82.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that FOX will post 3.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in FOX by 70.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock worth $2,378,000 after acquiring an additional 30,866 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in FOX by 66.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after acquiring an additional 5,331 shares during the last quarter. Daiwa Securities Group Inc. increased its position in FOX by 2.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock valued at $884,000 after acquiring an additional 784 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of FOX in the first quarter worth about $329,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of FOX by 16.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,776 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

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.