Key Points
- Insider sale: Adam Ciongoli sold 29,897 FOXA shares on Dec. 9 at an average price of $69.55 for about $2.08 million, reducing his position by 45.4% to 35,978 shares.
- Strong quarter: Fox reported $1.51 EPS (beating estimates by $0.41) and $3.74 billion revenue, and the stock trades near its 12‑month high with a market cap of $31.21 billion and a P/E of 15.8.
- Analyst backdrop: Multiple firms have raised targets (Citigroup to $77, Arete to $97) and the consensus on MarketBeat is a "Moderate Buy" with a $70.50 target.
Fox Corporation (NASDAQ:FOXA - Get Free Report) insider Adam Ciongoli sold 29,897 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the sale, the insider directly owned 35,978 shares of the company's stock, valued at $2,502,269.90. The trade was a 45.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
FOX Trading Up 1.6%
Shares of FOX stock opened at $70.30 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The firm's 50 day simple moving average is $63.20 and its two-hundred day simple moving average is $59.23. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.55 and a beta of 0.51. Fox Corporation has a 12-month low of $45.91 and a 12-month high of $70.63.
FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.41. FOX had a return on equity of 18.61% and a net margin of 12.35%.The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business earned $1.45 earnings per share. The company's revenue was up 4.9% compared to the same quarter last year. Analysts predict that Fox Corporation will post 4.38 EPS for the current year.
Analyst Ratings Changes
A number of research firms recently weighed in on FOXA. Citigroup boosted their price target on shares of FOX from $68.00 to $77.00 and gave the stock a "buy" rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of FOX in a research report on Monday. Fox Advisors set a $97.00 target price on shares of FOX in a report on Tuesday, October 28th. TD Cowen boosted their target price on shares of FOX from $53.00 to $55.00 and gave the stock a "hold" rating in a research report on Friday, October 31st. Finally, Arete Research upgraded shares of FOX from a "neutral" rating to a "buy" rating and set a $97.00 price target on the stock in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.50.
Get Our Latest Research Report on FOX
Institutional Trading of FOX
Several large investors have recently added to or reduced their stakes in the stock. FWL Investment Management LLC acquired a new stake in FOX during the 3rd quarter valued at approximately $26,000. CYBER HORNET ETFs LLC bought a new position in shares of FOX in the 2nd quarter worth about $35,000. Zions Bancorporation National Association UT bought a new position in FOX in the first quarter worth about $40,000. Quantbot Technologies LP bought a new position in shares of FOX during the third quarter worth about $51,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock worth $52,000 after acquiring an additional 621 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.
About FOX
(
Get Free Report)
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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