Fox Corporation (NASDAQ:FOXA) Receives Consensus Rating of “Hold” from Brokerages

Fox Corporation (NASDAQ:FOXA) has received an average rating of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $74.8571.

Several analysts recently issued reports on the company. TD Cowen raised their target price on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Argus raised FOX to a “hold” rating in a research note on Thursday, February 19th. UBS Group set a $64.00 target price on FOX in a research note on Tuesday, February 24th. Wells Fargo & Company raised their target price on FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th.

Insider Activity

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares of the company’s stock, valued at $8,846.40. This trade represents a 99.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Nallen sold 216,806 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares of the company’s stock, valued at $20,892,042.08. This trade represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,586,871 shares of company stock worth $91,893,926 over the last three months. 19.68% of the stock is owned by insiders.

Institutional Trading of FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Elyxium Wealth LLC purchased a new stake in FOX in the fourth quarter worth about $27,000. FWL Investment Management LLC purchased a new stake in FOX in the third quarter worth about $26,000. CYBER HORNET ETFs LLC purchased a new stake in FOX in the second quarter worth about $35,000. Rosenberg Matthew Hamilton lifted its holdings in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after buying an additional 257 shares during the period. Finally, Private Trust Co. NA lifted its holdings in FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after buying an additional 187 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Down 1.7%

Shares of NASDAQ:FOXA opened at $65.69 on Wednesday. The stock’s 50-day moving average price is $62.70 and its 200-day moving average price is $65.09. FOX has a 12-month low of $52.96 and a 12-month high of $76.39. The stock has a market capitalization of $27.60 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.47 and a beta of 0.51. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.30. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%.FOX’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. On average, equities analysts anticipate that FOX will post 4.93 earnings per share for the current year.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.