Fox Corporation (NASDAQ:FOXA) Receives $74.86 Consensus PT from Brokerages

Fox Corporation (NASDAQ:FOXA) has earned an average recommendation of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $74.8571.

FOXA has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Morgan Stanley increased their target price on FOX from $74.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Barclays raised their price target on FOX from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Bank of America downgraded FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target for the company. in a research report on Wednesday, February 25th. Finally, Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th.

Insiders Place Their Bets

In related news, COO John Nallen sold 216,806 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the sale, the chief operating officer directly owned 362,206 shares in the company, valued at $20,892,042.08. This trade represents a 37.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares of the company’s stock, valued at approximately $8,846.40. This represents a 99.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is owned by corporate insiders.

Institutional Trading of FOX

A number of institutional investors have recently bought and sold shares of FOXA. PFA Pension Forsikringsaktieselskab bought a new stake in FOX in the fourth quarter worth $67,467,000. Ameriprise Financial Inc. increased its stake in FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares during the period. SG Americas Securities LLC increased its stake in FOX by 299.8% in the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after purchasing an additional 383,782 shares during the period. Lazard Asset Management LLC increased its stake in FOX by 624.5% in the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after purchasing an additional 242,321 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in FOX by 150.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock worth $27,601,000 after purchasing an additional 227,209 shares during the period. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

NASDAQ FOXA opened at $63.92 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The company has a market capitalization of $26.86 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.32 and a beta of 0.51. FOX has a one year low of $52.96 and a one year high of $76.39. The stock has a 50 day moving average price of $62.52 and a 200-day moving average price of $65.09.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%.The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. As a group, equities analysts predict that FOX will post 4.93 EPS for the current fiscal year.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.