FOX (NASDAQ:FOXA) Upgraded to Buy by Bank of America

FOX (NASDAQ:FOXA - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm currently has a $40.00 price objective on the stock, up from their previous price objective of $34.00. Bank of America's target price indicates a potential upside of 20.05% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities reissued a "neutral" rating and issued a $34.00 price objective on shares of FOX in a report on Monday, April 15th. Seaport Res Ptn upgraded FOX from a "neutral" rating to a "buy" rating in a research note on Friday, April 5th. Macquarie lifted their target price on FOX from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, February 8th. Citigroup upgraded shares of FOX from a "neutral" rating to a "buy" rating and upped their price objective for the company from $34.00 to $35.00 in a report on Friday, February 23rd. Finally, TheStreet cut shares of FOX from a "b-" rating to a "c" rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $34.42.

FOX Stock Up 0.5 %

Shares of NASDAQ:FOXA traded up $0.16 during midday trading on Thursday, reaching $33.32. 4,287,788 shares of the company were exchanged, compared to its average volume of 3,325,974. The firm has a market cap of $15.82 billion, a PE ratio of 19.72, a P/E/G ratio of 0.43 and a beta of 0.77. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. FOX has a fifty-two week low of $28.28 and a fifty-two week high of $35.40. The stock has a fifty day simple moving average of $30.66 and a two-hundred day simple moving average of $30.45.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company's quarterly revenue was down 8.1% compared to the same quarter last year. As a group, sell-side analysts forecast that FOX will post 3.18 earnings per share for the current year.

Hedge Funds Weigh In On FOX

Several large investors have recently bought and sold shares of FOXA. Global Retirement Partners LLC raised its stake in FOX by 862.2% during the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company's stock worth $29,000 after buying an additional 845 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of FOX by 254.4% in the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company's stock valued at $35,000 after purchasing an additional 809 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of FOX during the 4th quarter valued at about $43,000. MV Capital Management Inc. grew its stake in FOX by 36.5% during the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company's stock worth $44,000 after purchasing an additional 379 shares during the period. Finally, GAMMA Investing LLC bought a new stake in FOX in the fourth quarter worth approximately $53,000. 52.52% of the stock is currently owned by 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.