FOX (NASDAQ:FOXA) Price Target Raised to $70.00

Key Points

• Wells Fargo & Company has raised its price target for FOX (NASDAQ: FOXA) from $66.00 to $70.00, indicating a potential upside of 13.82% from the stock's previous close.
• The company reported $1.27 EPS for the most recent quarter, surpassing analyst expectations of $1.01, with a revenue increase of 6.3% year-over-year.
• Analyst ratings for FOX show a split with nine analysts rating it as a Buy and one as a Sell, resulting in an average rating of "Hold."

FOX (NASDAQ:FOXA - Get Free Report) had its price target increased by stock analysts at Wells Fargo & Company from $66.00 to $70.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 13.82% from the stock's previous close.

A number of other research analysts have also recently weighed in on FOXA. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Bank of America raised their target price on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Morgan Stanley increased their price target on shares of FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, FOX currently has an average rating of "Hold" and a consensus price target of $56.47.

FOX Stock Performance

Shares of FOXA opened at $61.50 on Monday. FOX has a 1 year low of $38.72 and a 1 year high of $61.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The company's fifty day moving average is $57.04 and its two-hundred day moving average is $54.56. The stock has a market capitalization of $27.40 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.47 and a beta of 0.52.

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

Institutional Investors Weigh In On FOX

A number of institutional investors have recently bought and sold shares of FOXA. CWM LLC boosted its holdings in shares of FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after purchasing an additional 527 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in FOX by 7.8% in the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after acquiring an additional 464 shares during the last quarter. Private Trust Co. NA grew its position in FOX by 86.5% during the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after acquiring an additional 431 shares during the period. HB Wealth Management LLC acquired a new stake in FOX during the first quarter worth about $420,000. Finally, Janney Montgomery Scott LLC increased its stake in FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after acquiring an additional 19,181 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

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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