FOX (NASDAQ:FOXA) Rating Increased to Hold at Evercore ISI

Evercore ISI upgraded shares of FOX (NASDAQ:FOXA) to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

Several other research firms have also weighed in on FOXA. Wells Fargo & Company lifted their price objective on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday. Rosenblatt Securities lifted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research note on Tuesday. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Up 4.3 %

Shares of NASDAQ FOXA opened at $45.48 on Tuesday. The company has a market capitalization of $20.93 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76. FOX has a 52-week low of $28.28 and a 52-week high of $45.82. 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 company’s 50 day moving average price is $41.53 and its 200-day moving average price is $37.48.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 EPS. Equities analysts forecast that FOX will post 3.7 earnings per share for the current year.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 335,355 shares of company stock worth $14,244,865 in the last quarter. 21.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FOX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after buying an additional 117,458 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after buying an additional 28,072 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of FOX by 565.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after buying an additional 20,250 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in FOX during the first quarter valued at about $609,000. Finally, SG Americas Securities LLC lifted its holdings in FOX by 89.6% during the first quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after purchasing an additional 23,791 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Company Profile

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.