FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Guggenheim Analyst Says

FOX (NASDAQ:FOXA) had its price target raised by analysts at Guggenheim from $55.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 12.00% from the company’s previous close.

FOXA has been the subject of several other reports. Wells Fargo & Company upped their price target on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group upped their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley boosted their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Price Performance

FOXA traded down $1.07 during trading on Wednesday, reaching $53.57. The stock had a trading volume of 841,180 shares, compared to its average volume of 3,392,110. The stock has a market cap of $24.47 billion, a PE ratio of 13.10, a PEG ratio of 1.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a one year low of $28.28 and a one year high of $55.56. The business has a 50-day moving average of $48.63 and a 200-day moving average of $43.95.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts anticipate that FOX will post 4.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after buying an additional 425,186 shares during the period. KBC Group NV lifted its holdings in shares of FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after buying an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after buying an additional 964,737 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of FOX by 308.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after purchasing an additional 919,883 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

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.