FOX (NASDAQ:FOXA) Stock Rating Upgraded by Wall Street Zen

FOX (NASDAQ:FOXA) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other analysts also recently issued reports on the company. Evercore set a $73.00 target price on FOX in a research report on Tuesday, May 12th. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings lowered FOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price objective on shares of FOX in a report on Friday. Finally, Fox Advisors set a $82.00 price objective on shares of FOX in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus target price of $74.38.

FOX Stock Performance

Shares of FOXA stock opened at $69.04 on Friday. The company has a market cap of $28.97 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.54. FOX has a 52 week low of $48.34 and a 52 week high of $76.39. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $57.36 and a 200-day moving average of $60.34.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. On average, equities analysts forecast that FOX will post 5.89 earnings per share for the current year.

Institutional Investors Weigh In On FOX

Several hedge funds have recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new stake in FOX during the 4th quarter valued at about $27,000. FWL Investment Management LLC purchased a new position in FOX in the third quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in shares of FOX in the second quarter worth approximately $35,000. Private Trust Co. NA lifted its stake in shares of FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after buying an additional 187 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in shares of FOX during the fourth quarter valued at approximately $55,000. 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.