The Goldman Sachs Group Reiterates Buy Rating for FOX (NASDAQ:FOXA)

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reiterated by analysts at The Goldman Sachs Group in a research report issued on Monday, Benzinga reports. They currently have a $42.00 target price on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 21.81% from the stock’s current price.

FOXA has been the topic of a number of other reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Barclays lifted their price objective on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Macquarie lifted their price objective on FOX from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.38.

FOX Price Performance

FOXA opened at $34.48 on Monday. The stock’s 50 day simple moving average is $33.27 and its 200 day simple moving average is $31.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. FOX has a 1 year low of $28.28 and a 1 year high of $35.40. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.23 and a beta of 0.77.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.44 billion. As a group, analysts predict that FOX will post 3.33 earnings per share for the current year.

Insider Buying and Selling at FOX

In other FOX news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Institutional Trading of FOX

Large investors have recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of FOX in the fourth quarter worth $1,796,000. Scout Investments Inc. grew its holdings in shares of FOX by 102.0% in the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock worth $6,227,000 after acquiring an additional 105,960 shares during the period. Hsbc Holdings PLC grew its holdings in shares of FOX by 99.9% in the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after acquiring an additional 326,254 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of FOX by 231.5% in the first quarter. Los Angeles Capital Management LLC now owns 177,074 shares of the company’s stock worth $5,537,000 after acquiring an additional 123,651 shares during the period. Finally, Deane Retirement Strategies Inc. bought a new stake in shares of FOX in the fourth quarter worth $2,752,000. Institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.