Fox Corporation (NASDAQ:FOXA) Receives $74.86 Average Price Target from Analysts

Shares of Fox Corporation (NASDAQ:FOXA) have been given a consensus recommendation of “Hold” by the seventeen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $74.8571.

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. UBS Group set a $64.00 price target on shares of FOX in a research report on Tuesday, February 24th. TD Cowen lifted their price target on shares of FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Wells Fargo & Company lifted their price target on shares of FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Barclays lifted their price target on shares of FOX from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th.

FOX Price Performance

FOXA opened at $63.92 on Wednesday. The company has a fifty day moving average price of $62.52 and a two-hundred day moving average price of $65.10. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. FOX has a 52 week low of $52.96 and a 52 week high of $76.39. The firm has a market capitalization of $26.86 billion, a PE ratio of 16.87, a P/E/G ratio of 3.42 and a beta of 0.52.

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

Insiders Place Their Bets

In other news, COO John Nallen sold 242,309 shares of FOX stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total transaction of $13,990,921.66. Following the transaction, the chief operating officer directly owned 357,653 shares of the company’s stock, valued at $20,650,884.22. This trade represents a 40.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares in the company, valued at $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 three months, insiders have sold 1,586,871 shares of company stock worth $91,893,926. Insiders own 19.68% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently added to or reduced their stakes in FOXA. FWL Investment Management LLC bought a new stake in FOX in the 3rd quarter valued at $26,000. Elyxium Wealth LLC bought a new stake in FOX in the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC bought a new stake in FOX in the 2nd quarter valued at $35,000. Rosenberg Matthew Hamilton lifted its position in FOX by 58.5% in the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock valued at $51,000 after acquiring an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in FOX in the 3rd quarter valued at $51,000. 52.52% of the stock is owned by institutional investors.

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.