Analysts Set Fox Co. (NASDAQ:FOXA) PT at $44.00

Shares of Fox Co. (NASDAQ:FOXA) have earned an average recommendation of “Hold” from the eighteen analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $46.87.

A number of research firms have issued reports on FOXA. Guggenheim boosted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Cfra reaffirmed a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Bank of America increased their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their target price on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group raised their target price on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th.

FOX Trading Up 1.1 %

Shares of FOXA stock opened at $49.99 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The business has a 50-day moving average of $45.30 and a 200 day moving average of $40.74. The stock has a market capitalization of $22.83 billion, a PE ratio of 12.22, a P/E/G ratio of 1.18 and a beta of 0.77. FOX has a 1-year low of $28.28 and a 1-year high of $50.63.

FOX (NASDAQ:FOXA) last issued its earnings results 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 net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Hedge funds have recently added to or reduced their stakes in the stock. Entropy Technologies LP purchased a new stake in FOX during the third quarter valued at $546,000. Invst LLC bought a new stake in shares of FOX during the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of FOX during the 3rd quarter valued at about $2,867,000. Edgestream Partners L.P. lifted its stake in shares of FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock worth $7,010,000 after purchasing an additional 157,927 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of FOX by 9.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock worth $24,492,000 after buying an additional 62,920 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other 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.