The Goldman Sachs Group Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its target price upped by The Goldman Sachs Group from $46.00 to $51.00 in a report released on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on FOXA. Cfra reaffirmed a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Morgan Stanley raised their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Bank of America boosted their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Rosenblatt Securities raised their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their target price on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.00.

FOX Trading Up 1.4 %

FOX stock opened at $43.60 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. FOX has a 12-month low of $28.28 and a 12-month high of $45.82. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 1.90 and a beta of 0.76. The firm has a 50 day moving average of $41.44 and a 200 day moving average of $37.42.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts predict that FOX will post 3.69 earnings per share for the current year.

Insider Activity

In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX 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 acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the second quarter valued at about $52,000. Meeder Asset Management Inc. acquired a new stake in FOX in the 1st quarter worth approximately $66,000. Finally, Covestor Ltd grew its position in FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after purchasing an additional 2,128 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

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.