Brokerages Set Fox Co. (NASDAQ:FOXA) Target Price at $33.40

Fox Co. (NASDAQ:FOXA) has earned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $34.42.

FOXA has been the topic of several research analyst reports. Citigroup raised shares of FOX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Bank of America upgraded shares of FOX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $40.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company dropped their price target on FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC raised its stake in shares of FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after acquiring an additional 845 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in FOX in the fourth quarter worth about $43,000. MV Capital Management Inc. grew its holdings in FOX by 36.5% during the 3rd quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after acquiring an additional 379 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in FOX during the 4th quarter valued at about $53,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

NASDAQ:FOXA opened at $33.32 on Tuesday. The business’s 50-day simple moving average is $30.66 and its two-hundred day simple moving average is $30.45. FOX has a 52 week low of $28.28 and a 52 week high of $35.40. The stock has a market cap of $15.82 billion, a PE ratio of 19.72, a P/E/G ratio of 0.43 and a beta of 0.77. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, analysts forecast that FOX will post 3.18 EPS for the current fiscal year.

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.