Fox Corporation (NASDAQ:FOXA) Receives $74.36 Consensus PT from Analysts

Fox Corporation (NASDAQ:FOXA) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $74.3571.

FOXA has been the topic of several research reports. Evercore set a $73.00 price objective on FOX in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $79.00 price objective on shares of FOX in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. increased their price target on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Finally, UBS Group reaffirmed a “neutral” rating on shares of FOX in a research note on Monday, June 15th.

FOX Stock Up 2.5%

NASDAQ FOXA opened at $50.10 on Friday. The firm has a market cap of $21.05 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.78 and a beta of 0.51. FOX has a one year low of $48.34 and a one year high of $76.39. The stock’s 50 day simple moving average is $62.19 and its 200 day simple moving average is $64.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%.FOX’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 EPS. As a group, sell-side analysts forecast that FOX will post 4.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FOX

Large investors have recently added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in FOX during the 4th quarter worth about $27,000. FWL Investment Management LLC bought a new position in FOX during the third quarter worth about $26,000. CYBER HORNET ETFs LLC bought a new position in FOX during the second quarter worth about $35,000. Rosenberg Matthew Hamilton lifted its position in FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after acquiring an additional 187 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.