FOX (NASDAQ:FOXA – Get Rating) was downgraded by investment analysts at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, The Fly reports.
Several other equities research analysts have also commented on the company. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Tuesday, January 3rd. Bank of America lowered FOX from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $34.00 in a research note on Tuesday, March 28th. Morgan Stanley boosted their price target on FOX from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 9th. Wells Fargo & Company boosted their price target on FOX from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Finally, Guggenheim decreased their price target on FOX from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.67.
FOX Stock Performance
NASDAQ FOXA opened at $33.74 on Thursday. The company has a current ratio of 3.37, a quick ratio of 2.86 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $34.49 and its two-hundred day moving average is $32.17. FOX has a 12-month low of $28.01 and a 12-month high of $40.12. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.00 and a beta of 0.85.
FOX (NASDAQ:FOXA – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. FOX had a return on equity of 15.71% and a net margin of 10.55%. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts expect that FOX will post 3.46 EPS for the current year.
Insider Transactions at FOX
In other news, insider Viet D. Dinh sold 72,207 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $35.91, for a total transaction of $2,592,953.37. Following the completion of the sale, the insider now directly owns 49,384 shares in the company, valued at approximately $1,773,379.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 19.86% of the company’s stock.
Institutional Trading of FOX
Institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Finance LLC raised its position in FOX by 3.9% in the first quarter. Empirical Finance LLC now owns 8,860 shares of the company’s stock valued at $302,000 after purchasing an additional 336 shares during the period. Victory Capital Management Inc. raised its position in FOX by 14.2% in the fourth quarter. Victory Capital Management Inc. now owns 625,381 shares of the company’s stock valued at $18,993,000 after purchasing an additional 77,895 shares during the period. Nordwand Advisors LLC purchased a new position in FOX in the fourth quarter valued at about $4,489,000. Rockefeller Capital Management L.P. raised its position in FOX by 17.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,367 shares of the company’s stock valued at $223,000 after purchasing an additional 1,111 shares during the period. Finally, Natixis raised its position in FOX by 9.2% in the fourth quarter. Natixis now owns 22,351 shares of the company’s stock valued at $679,000 after purchasing an additional 1,891 shares during the period. 55.65% of the stock is currently owned by institutional investors and hedge funds.
FOX Company Profile
Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.