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

FOX (NASDAQ:FOXA) had its target price raised by investment analysts at Guggenheim from $55.00 to $60.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 12.00% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group increased their price target on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. TD Cowen increased their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays increased their price target on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $50.19.

FOX Price Performance

Shares of FOX stock traded down $1.07 during trading hours on Wednesday, reaching $53.57. The stock had a trading volume of 841,180 shares, compared to its average volume of 3,392,110. The firm has a market capitalization of $24.47 billion, a PE ratio of 13.10, a PEG ratio of 1.25 and a beta of 0.76. The stock’s 50 day moving average is $48.63 and its 200 day moving average is $43.95. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a twelve month low of $28.28 and a twelve month high of $55.56.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts expect that FOX will post 4.12 earnings per share for the current fiscal year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 21.77% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Several large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased 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 valued at $405,194,000 after acquiring an additional 425,186 shares during the period. KBC Group NV boosted its stake in FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after purchasing an additional 919,883 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after purchasing an additional 110,753 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.