Weiss Ratings Reaffirms "Buy (B+)" Rating for FOX (NASDAQ:FOX)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B+)" rating for FOX, as noted in their recent research note to investors.
• FOX reported $1.27 earnings per share for the last quarter, surpassing the estimated $1.03 by $0.24, along with a revenue of $3.29 billion.
• Major institutional investors have recently increased their stakes in FOX, with Federated Hermes Inc. raising their stake by 66.2% during the first quarter.

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

FOX Stock Down 2.4%

NASDAQ FOX opened at $53.76 on Wednesday. The stock's 50-day moving average price is $53.73 and its 200-day moving average price is $50.87. The company has a market capitalization of $23.95 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.35 and a beta of 0.59. FOX has a 52 week low of $37.97 and a 52 week high of $59.29. 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:FOX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.24. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%. On average, equities research analysts predict that FOX will post 4.25 earnings per share for the current year.

Institutional Trading of FOX

A number of large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after acquiring an additional 231 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in FOX by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company's stock worth $1,839,000 after acquiring an additional 266 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in FOX by 2.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,040 shares of the company's stock worth $529,000 after acquiring an additional 270 shares during the last quarter. CWM LLC increased its stake in FOX by 16.6% in the 1st quarter. CWM LLC now owns 1,892 shares of the company's stock worth $100,000 after acquiring an additional 270 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of FOX by 7.5% in the 1st quarter. Fifth Third Bancorp now owns 4,398 shares of the company's stock worth $232,000 after purchasing an additional 307 shares during the period. Institutional investors own 26.41% of the company's stock.

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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