FOX’s (FOXA) Buy Rating Reiterated at Guggenheim

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating restated by Guggenheim in a research note issued on Tuesday,Benzinga reports. They presently have a $60.00 price target on the stock. Guggenheim’s price objective indicates a potential upside of 9.94% from the stock’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company lifted their price target on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. UBS Group raised their price objective on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Bank of America increased their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup raised their price target on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.19.

FOX Stock Up 2.2 %

FOXA traded up $1.18 during midday trading on Tuesday, hitting $54.57. The company had a trading volume of 333,564 shares, compared to its average volume of 3,152,394. The company has a market capitalization of $24.75 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.27 and a beta of 0.67. The stock’s 50 day moving average price is $53.16 and its 200 day moving average price is $47.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. FOX has a 52 week low of $30.02 and a 52 week high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. On average, research analysts anticipate that FOX will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors and hedge funds have recently made changes to their positions in FOXA. Pacer Advisors Inc. raised its position in FOX by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after buying an additional 425,186 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of FOX by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after acquiring an additional 39,959 shares during the period. Northern Trust Corp grew its position in shares of FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after acquiring an additional 511,554 shares during the period. Norges Bank bought a new position in FOX in the 4th quarter worth $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in FOX by 8.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after purchasing an additional 219,016 shares in 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 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.