FOX (NASDAQ:FOXA) Lowered to Hold Rating by StockNews.com

FOX (NASDAQ:FOXA) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other equities research analysts have also recently issued reports on FOXA. Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Barclays upped their price target on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Guggenheim upped their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, FOX presently has a consensus rating of “Hold” and an average target price of $44.00.

FOX Stock Down 1.6 %

NASDAQ:FOXA traded down $0.77 during trading hours on Monday, reaching $46.08. The company’s stock had a trading volume of 6,235,833 shares, compared to its average volume of 3,073,633. The company has a market cap of $21.05 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. FOX has a one year low of $28.28 and a one year high of $47.58. The business’s 50-day moving average is $43.00 and its 200-day moving average is $38.81. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 earnings per share. Equities research analysts predict that FOX will post 3.94 EPS for the current year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

Large investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. Friedenthal Financial bought a new stake in shares of FOX during the second quarter valued at approximately $51,000. Quest Partners LLC bought a new stake in shares of FOX during the third quarter valued at approximately $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX during the second quarter valued at approximately $52,000. Finally, Quarry LP bought a new stake in shares of FOX during the third quarter valued at approximately $70,000. 52.52% of the stock is 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 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.