Fox Co. (NASDAQ:FOXA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fox Co. (NASDAQ:FOXA) have received an average rating of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $44.00.

Several equities analysts have recently commented on the company. Cfra reaffirmed a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Evercore ISI raised shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Bank of America raised their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. TD Cowen increased their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities lifted their price target on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by company insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% during 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 in the last quarter. Quest Partners LLC purchased a new position in shares of FOX in the 3rd quarter worth approximately $51,000. Friedenthal Financial purchased a new position in shares of FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX during the second quarter valued at approximately $52,000. Finally, Quarry LP bought a new stake in FOX during the third quarter worth $70,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Up 1.2 %

FOX stock opened at $46.71 on Friday. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The firm has a market capitalization of $21.33 billion, a PE ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76. The company’s 50-day moving average is $43.24 and its 200-day moving average is $38.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. Sell-side analysts anticipate that FOX will post 3.94 earnings per share for the current year.

About FOX

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.