FOX (NASDAQ:FOXA) Upgraded at StockNews.com

FOX (NASDAQ:FOXA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Several other equities analysts have also recently issued reports on FOXA. Barclays raised their price objective on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Bank of America lifted their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Macquarie reiterated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen increased their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.00.

FOX Trading Down 0.4 %

FOXA opened at $46.73 on Tuesday. FOX has a 12-month low of $28.28 and a 12-month high of $47.11. 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 stock has a market capitalization of $21.51 billion, a PE ratio of 11.40, a P/E/G ratio of 1.20 and a beta of 0.76. The firm’s fifty day moving average price is $41.87 and its 200 day moving average price is $37.91.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.09 earnings per share. As a group, research analysts expect that FOX will post 3.94 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX in the second quarter worth about $51,000. Quest Partners LLC purchased a new position in shares of FOX in the third quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the second quarter valued at approximately $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of FOX in the 1st quarter valued at approximately $66,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

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.