FOX (NASDAQ:FOXA) Stock Rating Lowered by StockNews.com

FOX (NASDAQ:FOXA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

FOXA has been the topic of a number of other research reports. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Guggenheim upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.47.

FOX Stock Up 0.7 %

FOX stock opened at $49.43 on Tuesday. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock’s fifty day moving average is $44.83 and its two-hundred day moving average is $40.39. 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 posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. Analysts predict that FOX will post 3.94 EPS for the current fiscal year.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of FOX during the third quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX during the 2nd quarter worth approximately $52,000. Quarry LP purchased a new stake in FOX during the 3rd quarter worth approximately $70,000. Transamerica Financial Advisors Inc. acquired a new position in shares of FOX in the 3rd quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of FOX during the 3rd quarter valued at approximately $141,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.