FOX (NASDAQ:FOX) Upgraded at Citizens Jmp

Key Points

• Citizens JMP upgraded FOX to “strong buy,” adding to a generally positive analyst outlook. FOX has a consensus “Moderate Buy” rating and an average price target of $77.67.
• FOX shares opened at $60.34, down 1.3%, with a market capitalization of approximately $25.32 billion and a 52-week range of $44.08 to $68.18.
• The company recently exceeded earnings expectations, reporting $1.79 in quarterly EPS versus a $1.44 estimate and revenue of $4.21 billion compared with the $3.64 billion consensus forecast.

FOX (NASDAQ:FOX - Get Free Report) was upgraded by equities researchers at Citizens Jmp to a "strong-buy" rating in a report released on Monday, Zacks reports.

A number of other equities analysts have also recently issued reports on FOX. Wolfe Research set a $93.00 price objective on shares of FOX in a research report on Thursday, August 20th. Guggenheim reiterated a "buy" rating on shares of FOX in a report on Tuesday, August 25th. Rothschild & Co Redburn set a $71.00 target price on FOX in a research note on Friday, July 10th. Weiss Ratings upgraded FOX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 10th. Finally, Zacks Research lowered FOX from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of "Moderate Buy" and an average target price of $77.67.

FOX Stock Down 1.3%

Shares of FOX stock opened at $60.34 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. FOX has a 52-week low of $44.08 and a 52-week high of $68.18. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.65 and a beta of 0.58. The company's 50 day moving average price is $55.80 and its 200-day moving average price is $54.86.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. Equities research analysts forecast that FOX will post 5.99 EPS for the current year.

Institutional Investors Weigh In On FOX

A number of large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC bought a new position in FOX in the second quarter worth about $35,047,000. Gamco Investors INC. ET AL boosted its position in FOX by 10.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company's stock valued at $31,073,000 after acquiring an additional 53,166 shares in the last quarter. Gabelli Funds LLC boosted its position in FOX by 2.3% during the 1st quarter. Gabelli Funds LLC now owns 579,800 shares of the company's stock valued at $30,787,000 after acquiring an additional 13,200 shares in the last quarter. F&V Capital Management LLC grew its holdings in shares of FOX by 31.0% during the 2nd quarter. F&V Capital Management LLC now owns 373,105 shares of the company's stock worth $17,476,000 after acquiring an additional 88,395 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in shares of FOX by 3.2% during the 1st quarter. New York State Teachers Retirement System now owns 179,681 shares of the company's stock worth $9,541,000 after acquiring an additional 5,504 shares during the period. Institutional investors own 26.41% of the company's stock.

About FOX

Fox Corporation NASDAQ: FOX is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company's principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.

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