Fox Corporation (NASDAQ:FOX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Fox Corporation (NASDAQ:FOX) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $74.3333.

A number of equities research analysts have recently commented on FOX shares. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded shares of FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Finally, Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a report on Friday.

FOX Stock Performance

Shares of FOX stock opened at $49.50 on Friday. The stock has a market cap of $20.80 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The business has a 50-day simple moving average of $53.85 and a 200-day simple moving average of $56.42. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. FOX has a 52-week low of $44.08 and a 52-week high of $68.18.

FOX (NASDAQ:FOX) last posted its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.02 by $0.30. The firm 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%. On average, equities analysts expect that FOX will post 4.78 EPS for the current year.

Institutional Investors Weigh In On FOX

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in FOX by 792.4% in the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after acquiring an additional 2,827,768 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in FOX during the second quarter worth $35,047,000. SG Americas Securities LLC raised its position in FOX by 2,459.6% in the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock valued at $26,818,000 after purchasing an additional 396,900 shares during the period. Pinebridge Investments LLC acquired a new position in shares of FOX in the 4th quarter valued at $13,758,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of FOX in the 1st quarter valued at $9,328,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Zacks added FOX to its Strong Buy lists and highlighted it among income stocks, which may support sentiment by signaling improving analyst/quantitative outlook. New Strong Buy Stocks for July 13th
• Positive Sentiment: Zacks also published a piece suggesting Fox Corporation could have meaningful upside versus the current share price, reinforcing the idea that the stock may be undervalued. Can Fox (FOX) Climb 38.77% to Reach the Level Wall Street Analysts Expect?
• Neutral Sentiment: Fox News coverage across politics, world news, and lifestyle topics is broad but does not appear to contain a specific corporate catalyst for Fox Corporation in the near term.
• Neutral Sentiment: Several Fox News video segments focused on Iran, U.S. politics, and current events; these are important for audience engagement but are not direct financial drivers for FOX.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.