FOX (NASDAQ:FOXA) Rating Increased to Hold at Evercore ISI

Evercore ISI upgraded shares of FOX (NASDAQ:FOXA) to a hold rating in a research report report published on Tuesday, Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Barclays increased their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.00.

FOX Stock Performance

Shares of FOXA opened at $45.48 on Tuesday. FOX has a 12 month low of $28.28 and a 12 month high of $45.82. The firm has a fifty day simple moving average of $41.53 and a 200 day simple moving average of $37.48. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 1.95 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that FOX will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 335,355 shares of company stock valued at $14,244,865. 21.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On FOX

Several hedge funds have recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV boosted its position in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the period. Friedenthal Financial acquired a new stake in FOX during the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX during the 2nd quarter worth approximately $52,000. Meeder Asset Management Inc. acquired a new stake in FOX during the 1st quarter worth approximately $66,000. Finally, Covestor Ltd boosted its position in FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after buying an additional 2,128 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.