FOX (NASDAQ:FOXA) Given Buy Rating at Guggenheim

Guggenheim reiterated their buy rating on shares of FOX (NASDAQ:FOXA) in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $62.00 price target on the stock, up from their prior price target of $60.00.

FOXA has been the subject of several other research reports. Cowen restated a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Loop Capital increased their price target on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Bank of America boosted their price objective on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Finally, UBS Group raised their price target on shares of FOX from $61.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.53.

FOX Stock Up 0.2%

FOXA opened at $56.79 on Wednesday. FOX has a 12 month low of $33.84 and a 12 month high of $58.74. The company has a market cap of $25.53 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $53.34 and a 200 day moving average of $52.24.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. On average, sell-side analysts expect that FOX will post 4.38 EPS for the current year.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer now owns 133,923 shares of the company’s stock, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Several institutional investors have recently modified their holdings of FOXA. Strs Ohio bought a new stake in FOX in the 1st quarter worth approximately $23,727,000. Acadian Asset Management LLC lifted its holdings in shares of FOX by 19,428.9% in the 1st quarter. Acadian Asset Management LLC now owns 179,080 shares of the company’s stock worth $10,129,000 after acquiring an additional 178,163 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of FOX by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company’s stock valued at $153,331,000 after purchasing an additional 32,144 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of FOX during the 1st quarter valued at $3,328,000. 52.52% of the stock is currently 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.