FOX (NASDAQ:FOX) Rating Increased to Strong-Buy at Zacks Research

FOX (NASDAQ:FOX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Bank of America restated an “underperform” rating and set a $45.00 target price (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Moderate Buy” and a consensus price target of $75.00.

FOX Stock Performance

Shares of FOX opened at $59.47 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.44 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average is $54.94 and its two-hundred day moving average is $58.43. FOX has a twelve month low of $48.42 and a twelve month high of $68.18. The firm has a market capitalization of $25.30 billion, a P/E ratio of 15.69, a PEG ratio of 6.89 and a beta of 0.54.

FOX (NASDAQ:FOX) last issued its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The company had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.78 billion. On average, research analysts predict that FOX will post 4.85 earnings per share for the current fiscal year.

Insider Activity at FOX

In other news, COO John Nallen sold 216,806 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the sale, the chief operating officer directly owned 362,206 shares in the company, valued at $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares in the company, valued at $8,846.40. This represents a 99.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,586,871 shares of company stock worth $91,893,926 over the last quarter. Company insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Several large investors have recently modified their holdings of FOX. Marshall Wace LLP grew its position in shares of FOX by 792.4% in the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after purchasing an additional 2,827,768 shares during the last quarter. SG Americas Securities LLC boosted its position in FOX by 2,459.6% during the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after acquiring an additional 396,900 shares during the last quarter. Pinebridge Investments LLC acquired a new stake in FOX during the fourth quarter worth approximately $13,758,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in FOX during the first quarter worth approximately $9,328,000. Finally, Gabelli Funds LLC boosted its position in FOX by 26.4% during the third quarter. Gabelli Funds LLC now owns 538,400 shares of the company’s stock worth $30,845,000 after acquiring an additional 112,600 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Key FOX News

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox’s fiscal Q3 results came in above expectations, with revenue of $3.99 billion and adjusted net income of $570 million, supporting the view that the company’s advertising and media businesses remain resilient. Fox Analysts Raise Their Forecasts After Upbeat Q3 Earnings
• Positive Sentiment: Analysts raised forecasts after the earnings beat, which can help sentiment by signaling stronger expectations for future performance and potentially supporting a higher valuation. Fox Analysts Raise Their Forecasts After Upbeat Q3 Earnings
• Neutral Sentiment: Fox Corporation presented at MoffettNathanson’s Media, Internet & Communications Conference, which may have kept investors focused on management’s outlook and strategy, but did not appear to be a major standalone catalyst. Fox Corporation (FOXA) Presents at MoffettNathanson’s Media, Internet & Communications Conference Transcript
• Neutral Sentiment: Most of the other headlines were Fox News editorial or video content on politics, immigration, AI, and current events. These items may drive audience engagement, but they are not direct financial catalysts for FOX shares. It never ends: GOP moves to fund border, Democrats blast Trump spending

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.