Fox Corporation (NASDAQ:FOXA) Receives $73.56 Consensus Target Price from Analysts

Fox Corporation (NASDAQ:FOXA) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, eight have assigned 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 $73.5625.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Evercore set a $73.00 price objective on shares of FOX in a research note on Tuesday, May 12th. Wolfe Research upgraded FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price for the company in a report on Tuesday, June 30th. Barclays decreased their price target on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. Finally, Rothschild & Co Redburn set a $71.00 price objective on FOX and gave the company a “buy” rating in a research report on Friday, July 10th.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently made changes to their positions in the business. PFA Pension Forsikringsaktieselskab purchased a new position in FOX during the 4th quarter valued at about $67,467,000. Ameriprise Financial Inc. lifted its position in shares of FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of FOX by 299.8% during the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after purchasing an additional 383,782 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of FOX by 624.5% during the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after purchasing an additional 242,321 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in FOX by 150.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock valued at $27,601,000 after purchasing an additional 227,209 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Trading Down 1.9%

Shares of FOX stock opened at $56.45 on Thursday. The firm has a market cap of $23.72 billion, a PE ratio of 14.89, a P/E/G ratio of 1.64 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 has a 1 year low of $48.34 and a 1 year high of $76.39. The stock has a fifty day moving average price of $58.97 and a 200-day moving average price of $61.92.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm posted $1.10 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts anticipate that FOX will post 4.94 EPS for the current year.

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.