FOX (NASDAQ:FOXA) Receives Buy Rating from Guggenheim

Guggenheim reissued their buy rating on shares of FOX (NASDAQ:FOXA) in a research note released on Tuesday morning,Benzinga reports. They currently have a $60.00 price objective on the stock.

A number of other brokerages have also issued reports on FOXA. JPMorgan Chase & Co. increased their price objective on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Citigroup boosted their price target on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Barclays boosted their target price on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.13.

FOX Stock Down 0.5 %

Shares of FOXA stock opened at $54.92 on Tuesday. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company’s fifty day moving average price is $53.55 and its 200-day moving average price is $47.88. FOX has a one year low of $30.02 and a one year high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. Sell-side analysts expect that FOX will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Activity

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of large investors have recently made changes to their positions in FOXA. WealthTrak Capital Management LLC purchased a new position in FOX in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp raised its stake in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

About FOX

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.