FOX (NASDAQ:FOXA) Price Target Raised to $39.00

FOX (NASDAQ:FOXA) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $38.00 to $39.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 16.98% from the stock’s current price.

A number of other equities analysts have also commented on FOXA. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. Citigroup upgraded shares of FOX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. Wells Fargo & Company decreased their target price on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a report on Thursday, February 8th. TheStreet cut shares of FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 price target on shares of FOX in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.42.

FOX Stock Up 0.5 %

FOXA stock traded up $0.18 during midday trading on Thursday, reaching $33.34. 1,492,728 shares of the company’s stock traded hands, compared to its average volume of 3,294,399. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 19.75, a P/E/G ratio of 0.43 and a beta of 0.77. FOX has a 52 week low of $28.28 and a 52 week high of $35.40. The firm’s fifty day moving average price is $30.58 and its 200-day moving average price is $30.43. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that FOX will post 3.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently modified their holdings of the stock. LSV Asset Management lifted its position in shares of FOX by 9.0% in the fourth quarter. LSV Asset Management now owns 8,293,153 shares of the company’s stock worth $246,058,000 after buying an additional 686,762 shares in the last quarter. Northern Trust Corp increased its holdings in shares of FOX by 67.8% in the 3rd quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock worth $175,993,000 after buying an additional 2,279,923 shares during the last quarter. Dimensional Fund Advisors LP grew its position in FOX by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,391,117 shares of the company’s stock worth $100,618,000 after acquiring an additional 51,942 shares in the last quarter. Great Lakes Advisors LLC increased its stake in FOX by 39.9% during the third quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock worth $75,324,000 after acquiring an additional 688,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of FOX by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock valued at $68,996,000 after purchasing an additional 42,143 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.