FOX (NASDAQ:FOXA) Stock Price Expected to Rise, Citigroup Analyst Says

FOX (NASDAQ:FOXA) had its target price upped by Citigroup from $50.00 to $58.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Guggenheim upped their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Loop Capital upped their price objective 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. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.87.

FOX Stock Up 1.4 %

FOXA stock opened at $49.53 on Wednesday. FOX has a one year low of $28.28 and a one year high of $50.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm’s fifty day moving average is $45.14 and its 200 day moving average is $40.55. The firm has a market cap of $22.62 billion, a PE ratio of 12.11, a P/E/G ratio of 1.18 and a beta of 0.77.

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

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

Institutional Inflows and Outflows

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

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.