FOX (NASDAQ:FOXA) Upgraded to Buy at StockNews.com

FOX (NASDAQ:FOXA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen lifted their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Up 0.8 %

NASDAQ FOXA opened at $47.00 on Friday. The stock has a fifty day moving average of $43.96 and a 200-day moving average of $39.63. The stock has a market capitalization of $21.47 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. FOX has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. On average, equities research analysts forecast that FOX will post 3.94 EPS for the current year.

Insider Activity

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 over the last three months. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in FOX during the third quarter worth about $51,000. Friedenthal Financial bought a new stake in FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the second quarter worth about $52,000. Quarry LP bought a new stake in FOX during the third quarter worth about $70,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in FOX during the third quarter worth about $119,000. 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.