Barclays Issues Pessimistic Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective lowered by analysts at Barclays from $50.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 12.64% from the stock’s current price.

FOXA has been the subject of several other reports. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Loop Capital increased their price objective on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. Wells Fargo & Company decreased their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upped their target price on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $51.06.

FOX Trading Up 8.6 %

NASDAQ:FOXA opened at $51.51 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. FOX has a one year low of $30.02 and a one year high of $58.74. The business’s 50-day simple moving average is $54.15 and its 200 day simple moving average is $48.79. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, sell-side analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % 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

Several large investors have recently bought and sold shares of FOXA. FMR LLC raised its holdings in FOX by 9.0% in the 3rd quarter. FMR LLC now owns 554,019 shares of the company’s stock valued at $23,452,000 after acquiring an additional 45,531 shares during the period. iA Global Asset Management Inc. raised its holdings in FOX by 241,314.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company’s stock valued at $715,000 after acquiring an additional 16,892 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of FOX by 0.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock worth $2,924,000 after purchasing an additional 590 shares in the last quarter. M&T Bank Corp grew its position in shares of FOX by 7.4% during the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in shares of FOX by 14.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after purchasing an additional 569 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

About FOX

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.