Fox Corporation (NASDAQ:FOX) Receives $75.00 Consensus Price Target from Brokerages

Shares of Fox Corporation (NASDAQ:FOX) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $75.00.

A number of research analysts have recently commented on FOX shares. Bank of America reaffirmed an “underperform” rating and set a $45.00 price objective (down from $80.00) on shares of FOX in a research note on Wednesday, February 25th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd.

FOX Stock Performance

Shares of FOX stock opened at $46.95 on Monday. The firm has a 50-day moving average price of $57.00 and a 200 day moving average price of $58.19. FOX has a twelve month low of $45.94 and a twelve month high of $68.18. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.84 and a beta of 0.54. 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:FOX) last announced its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. Research analysts forecast that FOX will post 4.76 earnings per share for the current fiscal year.

Institutional Trading of FOX

A number of institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after purchasing an additional 2,827,768 shares during the period. Andra AP fonden grew its holdings in shares of FOX by 2.7% during the 3rd quarter. Andra AP fonden now owns 1,110,900 shares of the company’s stock worth $63,643,000 after purchasing an additional 29,200 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of FOX by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock worth $43,296,000 after purchasing an additional 10,165 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after purchasing an additional 53,166 shares during the period. Finally, Gabelli Funds LLC grew its holdings in shares of FOX by 2.3% during the 1st quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock worth $30,787,000 after purchasing an additional 13,200 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox stock may benefit if its reported Roku acquisition/deal delivers long-term strategic value and expands distribution opportunities for FOX’s content. FOX Stock Is Attractive With Roku Deal Likely to Create Long-Term Value
• Neutral Sentiment: Analysts remain somewhat bullish on Fox Corporation, even as recent commentary says the stock has lagged the S&P 500 and the leisure/entertainment group over the past year. Is Fox Corporation Stock Underperforming the S&P 500?
• Neutral Sentiment: Fox News continued to publish high-volume coverage of major political and international developments, including Iran negotiations, Israel-Hezbollah tensions, and U.S. politics, which may help sustain traffic but does not clearly change FOX’s fundamentals. Trump administration unveils sweeping terms of proposed Iran agreement

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.