Fox Corporation (NASDAQ:FOXA) Given Average Recommendation of "Hold" by Analysts

Key Points

• Fox Corporation has a consensus analyst recommendation of "Hold" from 17 brokerages, with an average 1-year price target of about $74.86.
• The company’s latest quarterly results beat expectations, posting $1.32 EPS versus the $1.02 estimate and $3.99 billion in revenue versus the $3.78 billion forecast, even though revenue fell 8.6% year over year.
• Insider selling has been notable, including large share sales by COO John Nallen and CEO Lachlan K. Murdoch, with insiders selling 1.59 million shares worth about $91.9 million over the last three months.

Fox Corporation (NASDAQ:FOXA - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $74.8571.

Several equities research analysts have recently weighed in on FOXA shares. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Weiss Ratings restated a "buy (b-)" rating on shares of FOX in a research report on Friday. Morgan Stanley upped their target price on FOX from $74.00 to $77.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Evercore set a $73.00 price target on FOX in a report on Tuesday, May 12th. Finally, Barclays raised their price target on FOX from $63.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th.

Insider Buying and Selling

In related news, COO John Nallen sold 216,806 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total transaction of $12,505,370.08. Following the completion of the sale, the chief operating officer directly owned 362,206 shares of the company's stock, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares of the company's stock, valued at $8,846.40. This represents a 99.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,586,871 shares of company stock valued at $91,893,926 over the last three months. 19.68% of the stock is owned by corporate insiders.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Investment Advisors MI raised its stake in shares of FOX by 19.8% during the first quarter. Strategic Investment Advisors MI now owns 83,066 shares of the company's stock valued at $4,855,000 after acquiring an additional 13,749 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company's stock valued at $85,000 after acquiring an additional 251 shares in the last quarter. Andra AP fonden raised its stake in shares of FOX by 208.1% during the first quarter. Andra AP fonden now owns 247,000 shares of the company's stock valued at $14,425,000 after acquiring an additional 166,822 shares in the last quarter. Wilkerson Advisory Group LLC raised its stake in shares of FOX by 50.6% during the first quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company's stock valued at $84,000 after acquiring an additional 482 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of FOX by 9.9% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company's stock valued at $16,755,000 after acquiring an additional 25,900 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Trading Up 1.5%

Shares of NASDAQ FOXA opened at $64.96 on Wednesday. The business's 50 day moving average is $62.09 and its two-hundred day moving average is $65.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. FOX has a 1-year low of $52.96 and a 1-year high of $76.39. The stock has a market capitalization of $27.30 billion, a P/E ratio of 17.14, a PEG ratio of 3.32 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. The business's revenue was down 8.6% compared to the same quarter last year. As a group, research analysts expect that FOX will post 4.93 EPS for the current year.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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