FOX’s (FOXA) Neutral Rating Reiterated at Macquarie

Macquarie reaffirmed their neutral rating on shares of FOX (NASDAQ:FOXA) in a research report released on Tuesday morning,Benzinga reports. Macquarie currently has a $43.00 target price on the stock.

Several other research firms also recently issued reports on FOXA. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. The Goldman Sachs Group increased their price target on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. Bank of America lifted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Guggenheim increased their price objective on shares of FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley boosted their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

FOX Price Performance

Shares of NASDAQ FOXA opened at $44.67 on Tuesday. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $45.82. The company has a market cap of $20.56 billion, a PE ratio of 10.92, a P/E/G ratio of 1.95 and a beta of 0.76. 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 business has a 50-day simple moving average of $41.53 and a two-hundred day simple moving average of $37.48.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities analysts expect that FOX will post 3.7 EPS for the current fiscal year.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 335,355 shares of company stock valued at $14,244,865. Company insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several large investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in FOX in the 2nd quarter valued at $51,000. Quest Partners LLC purchased a new position in FOX in the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX during the 2nd quarter worth $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in FOX during the 1st quarter worth $66,000. 52.52% of the stock is currently 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.