FOX (NASDAQ:FOXA) Rating Reiterated by Rosenblatt Securities

FOX (NASDAQ:FOXA)‘s stock had its “neutral” rating restated by research analysts at Rosenblatt Securities in a report released on Monday, Benzinga reports. They currently have a $34.00 target price on the stock. Rosenblatt Securities’ target price points to a potential upside of 11.84% from the company’s previous close.

A number of other research analysts have also commented on FOXA. Macquarie increased their price objective on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. TheStreet downgraded FOX from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Finally, Seaport Res Ptn raised FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.40.

FOX Stock Performance

Shares of FOXA stock opened at $30.40 on Monday. The stock’s fifty day simple moving average is $30.11 and its 200-day simple moving average is $30.37. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. FOX has a 1-year low of $28.28 and a 1-year high of $35.40. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 0.39 and a beta of 0.78.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.24. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm’s revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. On average, sell-side analysts predict that FOX will post 3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its position in FOX by 3.8% during the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock valued at $319,000 after purchasing an additional 372 shares in the last quarter. Deane Retirement Strategies Inc. acquired a new position in FOX during the fourth quarter valued at approximately $2,752,000. Federated Hermes Inc. raised its position in FOX by 3.9% during the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after purchasing an additional 1,271 shares in the last quarter. Duality Advisers LP raised its position in FOX by 273.1% during the third quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock valued at $1,536,000 after purchasing an additional 36,038 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in FOX by 66.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock valued at $46,935,000 after purchasing an additional 632,522 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

About FOX

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.