Wells Fargo & Company Issues Pessimistic Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective decreased by equities researchers at Wells Fargo & Company from $64.00 to $63.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.63% from the company’s current price.

FOXA has been the subject of several other research reports. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of FOX in a report on Tuesday. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Citigroup upped their price target on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays raised their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upped their target price on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.13.

FOX Stock Performance

Shares of FOXA opened at $54.96 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a 50-day moving average of $53.29 and a 200-day moving average of $47.77. The company has a market cap of $24.92 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. FOX has a one year low of $30.02 and a one year high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. As a group, equities analysts forecast that FOX will post 4.38 earnings per share for the current year.

Insider Transactions at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in FOX by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 307,111 shares of the company’s stock valued at $14,919,000 after buying an additional 12,251 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of FOX by 7.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,468 shares of the company’s stock valued at $509,000 after acquiring an additional 754 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in FOX in the 4th quarter worth about $987,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in FOX in the fourth quarter valued at about $7,855,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of FOX during the fourth quarter valued at about $1,404,000. 52.52% of the stock is owned by 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.