Fox Corporation (NASDAQ:FOXA) Receives $69.94 Consensus Price Target from Brokerages

Shares of Fox Corporation (NASDAQ:FOXA) have received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.50.

A number of analysts have recently issued reports on FOXA shares. Wells Fargo & Company raised their price target on shares of FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Wall Street Zen cut shares of FOX from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. TD Cowen lifted their target price on shares of FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, October 31st. Citigroup increased their price target on FOX from $68.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday. Finally, UBS Group raised their price target on FOX from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 31st.

Insider Transactions at FOX

In related news, Director Paul D. Ryan sold 17,767 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,920 shares of company stock worth $21,485,254 in the last quarter. Company insiders own 19.68% of the company’s stock.

Institutional Trading of FOX

A number of large investors have recently added to or reduced their stakes in FOXA. Greenleaf Trust boosted its position in shares of FOX by 3.1% during the 1st quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock valued at $384,000 after acquiring an additional 205 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of FOX by 9.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after buying an additional 214 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of FOX by 27.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock valued at $67,000 after buying an additional 229 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after acquiring an additional 280 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in FOX by 6.2% in the second quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock worth $314,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Down 0.9%

FOXA stock opened at $64.84 on Friday. The business has a 50 day moving average of $61.16 and a 200 day moving average of $57.54. The firm has a market cap of $28.79 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. FOX has a twelve month low of $44.82 and a twelve month high of $67.22. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 earnings per share. On average, research analysts forecast that FOX will post 4.38 EPS for the current fiscal year.

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.