Deutsche Bank Aktiengesellschaft Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $42.00 to $47.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Guggenheim boosted their target price 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. The Goldman Sachs Group increased their price target on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Rosenblatt Securities upped their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays lifted their price target on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Stock Performance

NASDAQ FOXA opened at $43.60 on Tuesday. FOX has a 1 year low of $28.28 and a 1 year 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 company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The firm’s 50 day simple moving average is $41.44 and its 200 day simple moving average is $37.42.

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

Insider Buying and Selling

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction 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 $10,907,311.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FOX news, 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price 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 in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FOX by 70.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock worth $2,378,000 after purchasing an additional 30,866 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in FOX by 66.1% in the first quarter. Janney Montgomery Scott LLC now owns 13,396 shares of the company’s stock worth $419,000 after purchasing an additional 5,331 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in FOX by 2.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 28,254 shares of the company’s stock valued at $884,000 after purchasing an additional 784 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of FOX during the 1st quarter valued at $329,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of FOX by 16.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 33,659 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,776 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

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.