Guggenheim Raises FOX (NASDAQ:FOXA) Price Target to $45.00

FOX (NASDAQ:FOXA) had its price objective raised by equities research analysts at Guggenheim from $44.00 to $45.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 6.66% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Evercore ISI upped their target price on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Rosenblatt Securities increased their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.71.

FOX Stock Up 2.6 %

Shares of NASDAQ FOXA traded up $1.08 during midday trading on Tuesday, hitting $42.19. The stock had a trading volume of 1,132,038 shares, compared to its average volume of 3,050,961. The business’s 50 day moving average is $39.29 and its 200-day moving average is $34.90. The company has a market cap of $19.69 billion, a P/E ratio of 13.23, a PEG ratio of 1.78 and a beta of 0.76. FOX has a 52 week low of $28.28 and a 52 week high of $42.32. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts predict that FOX will post 3.72 EPS for the current year.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Corporate 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 FOXA. Massmutual Trust Co. FSB ADV boosted its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares during the last quarter. UMB Bank n.a. boosted its position in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after acquiring an additional 809 shares during the last quarter. Friedenthal Financial bought a new position in shares of FOX during the second quarter worth $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX during the second quarter worth $52,000. Finally, Meeder Asset Management Inc. bought a new position in shares of FOX during the first quarter worth $66,000. 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.