FOX (NASDAQ:FOXA) Earns Buy (B+) Rating from Weiss Ratings

Key Points

• FOX's stock received a "buy (B+)" rating from Weiss Ratings, highlighting positive sentiment among analysts towards the company's financial performance.
• Wells Fargo recently increased its price target for FOX from $66.00 to $70.00, while Barclays raised its target from $52.00 to $58.00, indicating growing investor interest and confidence.
• FOX reported better-than-expected quarterly earnings, with a net income of $1.27 per share and a revenue increase of 6.3% from the previous year.

FOX (NASDAQ:FOXA - Get Free Report)'s stock had its "buy (b+)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company increased their price target on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Barclays increased their target price on FOX from $52.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Guggenheim increased their target price on FOX from $62.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Finally, UBS Group set a $65.00 target price on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.60.

FOX Trading Down 2.2%

Shares of FOX stock opened at $60.16 on Wednesday. FOX has a fifty-two week low of $41.24 and a fifty-two week high of $65.30. The firm has a market cap of $26.80 billion, a PE ratio of 12.25, a P/E/G ratio of 1.45 and a beta of 0.54. The business's fifty day moving average is $59.17 and its two-hundred day moving average is $55.48. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that FOX will post 4.38 earnings per share for the current year.

Hedge Funds Weigh In On FOX

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of FOX by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company's stock valued at $1,456,863,000 after buying an additional 518,835 shares during the last quarter. Invesco Ltd. grew its stake in FOX by 3.0% in the first quarter. Invesco Ltd. now owns 3,680,293 shares of the company's stock worth $208,305,000 after purchasing an additional 107,687 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in FOX by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company's stock worth $153,331,000 after purchasing an additional 32,144 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in FOX by 8.8% in the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock worth $149,218,000 after purchasing an additional 212,348 shares in the last quarter. Finally, KBC Group NV grew its stake in FOX by 1.3% in the first quarter. KBC Group NV now owns 2,397,604 shares of the company's stock worth $135,704,000 after purchasing an additional 29,906 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

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.

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