FOX (NASDAQ:FOXA) Given New $58.00 Price Target at Citigroup

FOX (NASDAQ:FOXA) had its target price lifted by research analysts at Citigroup from $50.00 to $58.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.76% from the stock’s previous close.

FOXA has been the topic of several other research reports. Wells Fargo & Company upped their target price on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Barclays raised their price objective on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $43.00 target price on shares of FOX in a research note on Tuesday, November 5th. Finally, Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.87.

FOX Stock Down 1.2 %

Shares of NASDAQ FOXA opened at $48.84 on Wednesday. FOX has a 52-week low of $28.28 and a 52-week high of $50.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company’s 50 day moving average price is $44.98 and its 200-day moving average price is $40.45. The company has a market capitalization of $22.31 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

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

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was 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 quarter, insiders sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Hedge Funds Weigh In On FOX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. grew its stake in FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares during the period. Raymond James Trust N.A. raised its holdings in shares of FOX by 4.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after purchasing an additional 451 shares during the period. Verdence Capital Advisors LLC lifted its position in shares of FOX by 3.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock valued at $461,000 after buying an additional 458 shares during the last quarter. Finally, US Bancorp DE increased its holdings in FOX by 4.0% in the 3rd quarter. US Bancorp DE now owns 14,239 shares of the company’s stock worth $603,000 after acquiring an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

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.