FOX (NASDAQ:FOXA) PT Raised to $50.00 at Bank of America

FOX (NASDAQ:FOXA) had its target price raised by equities research analysts at Bank of America from $45.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 18.20% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Evercore ISI lifted their price objective on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Macquarie lifted their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price objective on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.64.

FOX Price Performance

Shares of NASDAQ FOXA opened at $42.30 on Wednesday. The business has a fifty day moving average price of $39.49 and a two-hundred day moving average price of $35.04. The stock has a market capitalization of $19.74 billion, a PE ratio of 13.19, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $42.44.

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

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at $9,717,559.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares during the period. UMB Bank n.a. lifted its holdings in 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 buying an additional 809 shares during the period. Friedenthal Financial acquired a new position in FOX in the second quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX in the second quarter valued at $52,000. Finally, Meeder Asset Management Inc. acquired a new position in FOX in the first quarter valued at $66,000. 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 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.