FOX (NASDAQ:FOXA) Now Covered by Analysts at Citizens Jmp

Key Points

• Citizens JMP initiated coverage of FOX with a “market outperform” rating and a $95 price target, implying approximately 44% upside from the reported $65.94 share price.
• Analyst sentiment is mixed overall: FOX has an average “Hold” rating and a consensus price target of $75.59, based on 10 Buy, 8 Hold, and 1 Sell ratings.
• FOX exceeded quarterly expectations, reporting $1.79 EPS versus a $1.44 consensus estimate and $4.21 billion in revenue, up 28.1% year over year; institutional investors own 52.52% of the company.

Equities research analysts at Citizens Jmp assumed coverage on shares of FOX (NASDAQ:FOXA - Get Free Report) in a research report issued on Monday, Benzinga reports. The brokerage set a "market outperform" rating and a $95.00 price target on the stock. Citizens Jmp's price target points to a potential upside of 44.07% from the company's current price.

A number of other equities research analysts have also recently commented on FOXA. Wall Street Zen raised FOX from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the stock a "buy" rating in a research note on Friday, July 10th. Citigroup assumed coverage on shares of FOX in a research report on Monday. They set an "outperform" rating on the stock. JPMorgan Chase & Co. upgraded shares of FOX from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Finally, Weiss Ratings cut shares of FOX from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, FOX currently has an average rating of "Hold" and a consensus price target of $75.59.

FOX Price Performance

FOXA stock opened at $65.94 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 fifty-two week low of $48.34 and a fifty-two week high of $76.39. The company has a market capitalization of $27.67 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55. The business's 50 day moving average price is $61.96 and its two-hundred day moving average price is $60.90.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the company earned $1.27 earnings per share. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. As a group, analysts forecast that FOX will post 5.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FOXA. Geneos Wealth Management Inc. increased its stake in FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock worth $52,000 after buying an additional 621 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of FOX by 286.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company's stock worth $77,000 after acquiring an additional 1,014 shares during the last quarter. Baird Financial Group Inc. grew its stake in FOX by 19.7% during the second quarter. Baird Financial Group Inc. now owns 17,500 shares of the company's stock valued at $981,000 after acquiring an additional 2,876 shares in the last quarter. California State Teachers Retirement System increased its holdings in FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company's stock valued at $19,661,000 after acquiring an additional 49,963 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock valued at $101,948,000 after purchasing an additional 762,645 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

About FOX

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

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