TD Cowen Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective lifted by stock analysts at TD Cowen from $36.00 to $42.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price would indicate a potential downside of 7.65% from the company’s current price.

Other equities research analysts have also issued reports about the company. Loop Capital lifted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Guggenheim increased their price target on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company boosted their price objective on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday. Rosenblatt Securities upped their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Trading Up 4.3 %

NASDAQ:FOXA opened at $45.48 on Tuesday. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $41.53 and a 200-day moving average price of $37.48. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 1.95 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the business posted $1.09 earnings per share. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that FOX will post 3.7 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. 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 the SEC website. In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,355 shares of company stock valued at $14,244,865. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares during the period. Friedenthal Financial bought a new position in shares of FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the second quarter valued at approximately $52,000. Meeder Asset Management Inc. purchased a new stake in FOX during the first quarter valued at approximately $66,000. Finally, Covestor Ltd increased its holdings in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after buying an additional 2,128 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

About FOX

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.