FOX (NASDAQ:FOXA) Given New $50.00 Price Target at Guggenheim

FOX (NASDAQ:FOXA) had its target price increased by equities research analysts at Guggenheim from $45.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 9.94% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Evercore ISI raised their price objective on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Loop Capital upped their price objective on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Price Performance

NASDAQ FOXA opened at $45.48 on Tuesday. The stock’s fifty day moving average price is $41.53 and its 200 day moving average price is $37.48. FOX has a 1 year low of $28.28 and a 1 year high of $45.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.95 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. As a group, equities research analysts forecast that FOX will post 3.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 335,355 shares of company stock valued at $14,244,865 in the last 90 days. 21.77% of the stock is owned by insiders.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of FOX by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after buying an additional 1,653,913 shares during the period. Retirement Systems of Alabama lifted its holdings in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. increased its stake in FOX by 294.2% during the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after acquiring an additional 663,089 shares during the last quarter. Independent Franchise Partners LLP raised its position in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in FOX by 25.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after purchasing an additional 492,467 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Company Profile

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.