Barclays Lowers FOX (NASDAQ:FOXA) Price Target to $45.00

FOX (NASDAQ:FOXA) had its price target dropped by analysts at Barclays from $50.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 5.01% from the stock’s current price.

FOXA has been the topic of several other reports. Guggenheim reaffirmed a “buy” rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Bank of America lifted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup boosted their price objective on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Wolfe Research lowered shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target for the company. in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.06.

FOX Stock Down 2.4 %

Shares of NASDAQ FOXA traded down $1.18 during mid-day trading on Tuesday, reaching $47.38. 3,509,591 shares of the company were exchanged, compared to its average volume of 3,341,081. The firm has a 50-day moving average of $54.24 and a 200 day moving average of $48.66. FOX has a 1 year low of $30.02 and a 1 year high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.48 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. On average, research analysts expect that FOX will post 4.38 earnings per share for the current year.

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents 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 hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of FOX by 9.0% in the third quarter. FMR LLC now owns 554,019 shares of the company’s stock valued at $23,452,000 after purchasing an additional 45,531 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in FOX by 241,314.3% during the third quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company’s stock worth $715,000 after buying an additional 16,892 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock valued at $2,924,000 after buying an additional 590 shares in the last quarter. M&T Bank Corp increased its stake in shares of FOX by 7.4% in the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after acquiring an additional 1,010 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of FOX by 14.7% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after acquiring an additional 569 shares during the period. Institutional investors and hedge funds 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.