Fox Corporation (NASDAQ:FOXA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Fox Corp. has a consensus analyst rating of “Moderate Buy” from 18 brokerages, with an average 1-year price target of about $73.56.
• Recent analyst actions were mixed: Evercore set a $73 target, JPMorgan nudged its target to $70 with a neutral rating, and Wells Fargo cut its target to $65 while UBS also stayed neutral.
• FOX reported better-than-expected Q1 results, earning $1.32 per share on $3.99 billion in revenue, though revenue still fell 8.6% year over year.

Shares of Fox Corporation (NASDAQ:FOXA - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eighteen brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $73.5625.

Several equities analysts recently weighed in on the company. Evercore set a $73.00 price objective on FOX in a research note on Tuesday, May 12th. Weiss Ratings reissued a "buy (b-)" rating on shares of FOX in a report on Friday, May 22nd. JPMorgan Chase & Co. upped their target price on FOX from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Wells Fargo & Company cut their price target on FOX from $71.00 to $65.00 and set an "equal weight" rating for the company in a research note on Monday, July 6th. Finally, UBS Group reaffirmed a "neutral" rating on shares of FOX in a research note on Monday, June 15th.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently modified their holdings of the business. Private Trust Co. NA lifted its holdings in FOX by 35.6% in the fourth quarter. Private Trust Co. NA now owns 712 shares of the company's stock worth $52,000 after acquiring an additional 187 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of FOX by 9.2% during the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company's stock valued at $160,000 after purchasing an additional 214 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of FOX by 27.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company's stock valued at $67,000 after purchasing an additional 229 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of FOX by 3.5% during the 4th quarter. Venturi Wealth Management LLC now owns 6,916 shares of the company's stock worth $505,000 after purchasing an additional 232 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company's stock worth $85,000 after purchasing an additional 251 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Up 2.0%

Shares of NASDAQ FOXA opened at $55.99 on Thursday. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.57 and a beta of 0.54. FOX has a 52 week low of $48.34 and a 52 week high of $76.39. The firm has a 50-day moving average price of $59.77 and a 200 day moving average price of $62.49. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.30. The company had revenue of $3.99 billion during the quarter, compared to analysts' expectations of $3.78 billion. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Equities research analysts anticipate that FOX will post 4.94 EPS for the current fiscal year.

About FOX

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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