Citigroup Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective boosted by research analysts at Citigroup from $50.00 to $58.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 16.28% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on shares of FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. 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. UBS Group upped their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Loop Capital lifted their price target on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average price target of $45.87.

FOX Trading Up 1.7 %

Shares of FOX stock traded up $0.81 on Wednesday, hitting $49.88. The stock had a trading volume of 726,093 shares, compared to its average volume of 3,103,642. The stock has a 50 day moving average of $44.68 and a 200 day moving average of $40.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. FOX has a twelve month low of $28.28 and a twelve month high of $49.97. The firm has a market capitalization of $22.78 billion, a P/E ratio of 12.20, a PEG ratio of 1.18 and a beta of 0.77.

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, topping analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts expect that FOX will post 3.94 earnings per share for the current fiscal year.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new stake in shares of FOX during the third quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX in the 2nd quarter worth approximately $52,000. Quarry LP bought a new stake in shares of FOX in the 3rd quarter worth approximately $70,000. Transamerica Financial Advisors Inc. bought a new stake in shares of FOX in the 3rd quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of FOX during the third quarter valued at approximately $141,000. 52.52% of the stock is currently owned by 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.