Brokerages Set Fox Corporation (NASDAQ:FOXA) Target Price at $73.63

Fox Corporation (NASDAQ:FOXA) has earned an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $73.6250.

Several research analysts have recently issued reports on FOXA shares. Evercore ISI upped their price target on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Fox Advisors set a $97.00 target price on FOX in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their price target on FOX from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company upped their price objective on FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 31st.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 168,756 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven Tomsic sold 138,397 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the sale, the chief financial officer owned 180,556 shares of the company’s stock, valued at $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 454,817 shares of company stock valued at $29,490,590. Insiders own 19.68% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently made changes to their positions in the stock. FWL Investment Management LLC acquired a new stake in shares of FOX in the third quarter valued at about $26,000. CYBER HORNET ETFs LLC bought a new stake in FOX in the second quarter valued at approximately $35,000. Quantbot Technologies LP acquired a new stake in FOX during the 3rd quarter valued at approximately $51,000. Geneos Wealth Management Inc. increased its position in FOX by 205.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the period. Finally, WPG Advisers LLC bought a new position in FOX during the 1st quarter worth approximately $54,000. Institutional investors own 52.52% of the company’s stock.

FOX Trading Up 0.9%

FOXA opened at $73.76 on Friday. The company has a market cap of $32.75 billion, a P/E ratio of 16.58, a PEG ratio of 1.65 and a beta of 0.50. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $67.99 and its 200-day moving average is $61.46. FOX has a 1-year low of $46.42 and a 1-year high of $74.67.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company earned $1.45 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that FOX will post 4.38 earnings per share for the current fiscal year.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.