Guggenheim Reaffirms Buy Rating for FOX (NASDAQ:FOXA)

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They currently have a $60.00 price target on the stock. Guggenheim’s price target would indicate a potential upside of 8.68% from the company’s previous close.

FOXA has been the topic of a number of other reports. Bank of America increased their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. UBS Group upped their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Loop Capital lifted their price target on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.13.

FOX Stock Up 0.5 %

Shares of FOXA opened at $55.21 on Tuesday. 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 has a 12 month low of $30.02 and a 12 month high of $58.74. The firm’s 50 day moving average is $53.42 and its 200-day moving average is $47.83. The stock has a market capitalization of $25.03 billion, a PE ratio of 11.82, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. Equities research analysts forecast that FOX will post 4.38 EPS for the current year.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in shares of FOX by 10.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after buying an additional 110,753 shares during the period. Invst LLC acquired a new stake in FOX in the third quarter worth $740,000. Asset Management One Co. Ltd. increased its stake in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after purchasing an additional 23,704 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after purchasing an additional 3,787 shares during the period. Finally, Brookstone Capital Management bought a new position in shares of FOX during the 4th quarter worth about $492,000. Institutional investors and hedge funds 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.