Macquarie Reaffirms “Neutral” Rating for FOX (NASDAQ:FOXA)

Macquarie reissued their neutral rating on shares of FOX (NASDAQ:FOXA) in a report issued on Tuesday morning,Benzinga reports. Macquarie currently has a $43.00 target price on the stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley upped their price objective on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Bank of America lifted their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Performance

NASDAQ FOXA opened at $44.67 on Tuesday. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $45.82. The firm has a market capitalization of $20.56 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. The stock’s fifty day moving average is $41.53 and its two-hundred day moving average is $37.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. FOX’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts anticipate that FOX will post 3.7 earnings per share for the current year.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,355 shares of company stock valued at $14,244,865. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew 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 purchasing an additional 461 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of FOX in the 3rd quarter worth about $51,000. Friedenthal Financial acquired a new stake in FOX in the 2nd quarter valued at about $51,000. Duncker Streett & Co. Inc. purchased a new position in FOX during the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in FOX during the first quarter worth about $66,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.