Fox Corporation (NASDAQ:FOX) Receives $75.00 Average Target Price from Analysts

Fox Corporation (NASDAQ:FOX) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $75.00.

A number of equities research analysts recently weighed in on FOX shares. Bank of America reaffirmed an “underperform” rating and set a $45.00 price target (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th.

FOX Price Performance

FOX stock opened at $46.95 on Monday. The business has a 50 day simple moving average of $57.00 and a 200 day simple moving average of $58.20. FOX has a one year low of $45.94 and a one year high of $68.18. The company has a market capitalization of $19.73 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating 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 firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. On average, sell-side analysts forecast that FOX will post 4.76 EPS for the current fiscal year.

Institutional Investors Weigh In On FOX

A number of hedge funds and other institutional investors have recently bought and sold shares of FOX. Marshall Wace LLP increased its stake in shares of FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after buying an additional 2,827,768 shares during the period. SG Americas Securities LLC increased its stake in shares of FOX by 2,459.6% in the 4th quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock valued at $26,818,000 after buying an additional 396,900 shares during the period. Pinebridge Investments LLC acquired a new stake in shares of FOX in the 4th quarter valued at $13,758,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of FOX in the 1st quarter valued at $9,328,000. Finally, Gabelli Funds LLC increased its stake in shares of FOX by 26.4% in the 3rd quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock valued at $30,845,000 after buying an additional 112,600 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox stock may benefit if its reported Roku acquisition/deal delivers long-term strategic value and expands distribution opportunities for FOX’s content. FOX Stock Is Attractive With Roku Deal Likely to Create Long-Term Value
• Neutral Sentiment: Analysts remain somewhat bullish on Fox Corporation, even as recent commentary says the stock has lagged the S&P 500 and the leisure/entertainment group over the past year. Is Fox Corporation Stock Underperforming the S&P 500?
• Neutral Sentiment: Fox News continued to publish high-volume coverage of major political and international developments, including Iran negotiations, Israel-Hezbollah tensions, and U.S. politics, which may help sustain traffic but does not clearly change FOX’s fundamentals. Trump administration unveils sweeping terms of proposed Iran agreement

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.