Barclays Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its target price upped by stock analysts at Barclays from $39.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 8.49% from the company’s current price.

Several other brokerages have also recently weighed in on FOXA. UBS Group lifted their price objective on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Bank of America lifted their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped their target price on FOX from $42.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.94.

FOX Trading Up 5.2 %

Shares of FOX stock opened at $54.64 on Wednesday. FOX has a 1 year low of $28.28 and a 1 year high of $55.56. The company has a market capitalization of $24.96 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.25 and a beta of 0.76. The business has a fifty day simple moving average of $48.63 and a two-hundred day simple moving average of $43.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue was up 19.9% on a year-over-year basis. Research analysts forecast that FOX will post 4.12 EPS for the current year.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

A number of institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares in the last quarter. KBC Group NV grew its position in shares of FOX by 56.1% during the 4th quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after buying an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after acquiring an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of FOX by 308.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after acquiring an additional 919,883 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. 52.52% of the stock is owned by 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.