Citigroup Boosts FOX (NASDAQ:FOXA) Price Target to $58.00

FOX (NASDAQ:FOXA) had its price target hoisted by Citigroup from $50.00 to $58.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on FOXA. Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Guggenheim boosted their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. UBS Group raised their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Bank of America boosted their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.47.

FOX Stock Up 0.7 %

Shares of NASDAQ FOXA opened at $49.43 on Wednesday. The company has a market capitalization of $22.58 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a 50 day simple moving average of $44.83 and a 200-day simple moving average of $40.39. FOX has a 1 year low of $28.28 and a 1 year high of $50.63.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that FOX will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

Institutional Investors Weigh In On FOX

Several institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP purchased a new stake in shares of FOX during the 3rd quarter worth approximately $546,000. Invst LLC acquired a new stake in shares of FOX in the third quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FOX during the 3rd quarter worth $2,867,000. Edgestream Partners L.P. grew its position in FOX by 343.1% during the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock worth $7,010,000 after purchasing an additional 157,927 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of FOX by 9.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock valued at $24,492,000 after buying an additional 62,920 shares during the last quarter. Hedge funds and other 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 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.