FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Bank of America Analyst Says

FOX (NASDAQ:FOXA) had its target price boosted by Bank of America from $50.00 to $55.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently issued reports on FOXA. JPMorgan Chase & Co. boosted their price target on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Loop Capital increased their target price on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their price objective on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, UBS Group lifted their target price on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.87.

FOX Trading Up 1.4 %

NASDAQ FOXA opened at $49.53 on Wednesday. The company has a market cap of $22.62 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.18 and a beta of 0.77. FOX has a 12 month low of $28.28 and a 12 month high of $50.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a 50-day moving average of $45.14 and a 200-day moving average of $40.55.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. As a group, equities analysts predict that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 in the last three months. Corporate insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Several hedge funds and other institutional investors have recently bought and sold shares of FOXA. Quest Partners LLC bought a new position in FOX during the 3rd quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the 2nd quarter valued at approximately $52,000. Quarry LP bought a new position in FOX during the third quarter worth $70,000. Transamerica Financial Advisors Inc. acquired a new position in FOX in the third quarter worth $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in FOX during the third quarter valued at $141,000. 52.52% of the stock is owned by institutional investors.

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.