UBS Group Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price target increased by UBS Group from $61.00 to $63.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wolfe Research cut shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Monday, April 7th. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Morgan Stanley increased their price objective on shares of FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Guggenheim reissued a “buy” rating and issued a $60.00 target price on shares of FOX in a report on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.71.

FOX Stock Performance

Shares of FOX stock opened at $55.24 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.27 and a beta of 0.51. The firm’s 50-day moving average is $51.27 and its 200 day moving average is $50.06. FOX has a 1 year low of $32.45 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. The business had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 EPS. Sell-side analysts anticipate that FOX will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Institutional investors have recently bought and sold shares of the stock. Hemington Wealth Management lifted its position in FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in FOX in the fourth quarter worth $26,000. SRS Capital Advisors Inc. lifted its position in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX during the fourth quarter worth $28,000. Finally, Jones Financial Companies Lllp lifted its position in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

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.