FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Morgan Stanley Analyst Says

FOX (NASDAQ:FOXA) had its target price lifted by stock analysts at Morgan Stanley from $38.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 4.76% from the company’s previous close.

Several other research analysts also recently commented on the company. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Rosenblatt Securities boosted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Loop Capital increased their target price on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.46.

FOX Price Performance

FOX stock opened at $42.00 on Friday. The company’s 50 day moving average price is $41.33 and its two-hundred day moving average price is $37.07. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The stock has a market cap of $19.33 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.91 and a beta of 0.76. FOX has a 52 week low of $28.28 and a 52 week high of $42.85.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. FOX’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities analysts predict that FOX will post 3.69 earnings per share for the current year.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.77% of the stock is owned by insiders.

Hedge Funds Weigh In On FOX

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after purchasing an additional 1,653,913 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares during the period. LSV Asset Management lifted its holdings in FOX by 5.9% in the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after buying an additional 481,267 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of FOX by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after acquiring an additional 492,467 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other 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.