FOX’s (FOXA) “Buy” Rating Reiterated at Guggenheim

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reiterated by equities research analysts at Guggenheim in a report released on Tuesday,Benzinga reports. They presently have a $60.00 price objective on the stock. Guggenheim’s price objective points to a potential upside of 8.68% from the stock’s previous close.

FOXA has been the subject of several other research reports. Citigroup upped their price target on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Bank of America upped their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and upped their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of “Hold” and an average target price of $51.13.

FOX Stock Up 0.5 %

FOX stock opened at $55.21 on Tuesday. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The firm’s fifty day moving average price is $53.42 and its two-hundred day moving average price is $47.83. FOX has a 1-year low of $30.02 and a 1-year high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling

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

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WealthTrak Capital Management LLC purchased a new position in shares of FOX in the fourth quarter worth $26,000. SRS Capital Advisors Inc. increased its position in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp boosted its holdings in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares during the last quarter. 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.