JPMorgan Chase & Co. Issues Positive Forecast for FOX (NASDAQ:FOXA) Stock Price

FOX (NASDAQ:FOXA) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $49.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.80% from the stock’s current price.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. TD Cowen boosted their price objective on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Barclays lifted their price target on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore ISI upgraded FOX to a “hold” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price target on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.19.

FOX Stock Down 2.0 %

FOX stock traded down $1.07 during mid-day trading on Wednesday, hitting $53.57. The company had a trading volume of 841,180 shares, compared to its average volume of 3,392,110. The company has a market capitalization of $24.47 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. FOX has a 12 month low of $28.28 and a 12 month high of $55.56. The stock’s 50 day moving average price is $48.63 and its two-hundred day moving average price is $43.95.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. The business’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, sell-side analysts anticipate that FOX will post 4.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 21.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FOX

Large investors have recently added to or reduced their stakes in the stock. Callan Capital LLC increased its holdings in FOX by 7.4% in the 4th quarter. Callan Capital LLC now owns 5,385 shares of the company’s stock valued at $262,000 after acquiring an additional 371 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in FOX by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock worth $491,000 after buying an additional 399 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after purchasing an additional 431 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares in the last quarter. Institutional investors own 52.52% 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.