FOX (NASDAQ:FOXA) Upgraded by Rothschild & Co Redburn to Strong-Buy Rating

Rothschild & Co Redburn upgraded shares of FOX (NASDAQ:FOXA) from a hold rating to a strong-buy rating in a research note published on Friday,Zacks.com reports.

Several other brokerages also recently weighed in on FOXA. Barclays dropped their target price on FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. Seaport Research Partners reiterated a “buy” rating and issued a $61.00 price target on shares of FOX in a research note on Tuesday, June 16th. UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th. Weiss Ratings restated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Finally, Wolfe Research upgraded shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price objective on the stock in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, FOX has an average rating of “Moderate Buy” and a consensus target price of $73.56.

FOX Price Performance

Shares of FOXA opened at $54.12 on Friday. The company has a 50 day moving average of $60.19 and a two-hundred day moving average of $62.95. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. FOX has a twelve month low of $48.34 and a twelve month high of $76.39. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.54.

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

Institutional Trading of FOX

Several large investors have recently added to or reduced their stakes in the company. FWL Investment Management LLC purchased a new position in shares of FOX in the third quarter worth about $26,000. Elyxium Wealth LLC acquired a new stake in shares of FOX during the fourth quarter worth about $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX during the second quarter worth about $35,000. Rosenberg Matthew Hamilton boosted its position in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after buying an additional 257 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in FOX in the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.