Evercore ISI Reaffirms Buy Rating for FOX (NASDAQ:FOXA)

FOX (NASDAQ:FOXA)‘s stock had its “buy” rating reissued by equities researchers at Evercore ISI in a research note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $45.00 price target on the stock. Evercore ISI’s target price would indicate a potential upside of 27.12% from the company’s previous close.

FOXA has been the subject of a number of other research reports. Guggenheim cut FOX from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $43.00 to $38.00 in a report on Monday, July 1st. Barclays reaffirmed a “hold” rating and issued a $38.00 target price on shares of FOX in a report on Friday, July 12th. Goldman Sachs Group assumed coverage on FOX in a report on Wednesday, June 26th. They issued a “buy” rating and a $46.00 target price for the company. Gabelli assumed coverage on FOX in a report on Wednesday, May 15th. They issued a “buy” rating and a $57.00 target price for the company. Finally, ValuEngine cut FOX from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.64.

FOXA traded up $0.27 on Thursday, reaching $35.40. The stock had a trading volume of 3,811,038 shares, compared to its average volume of 4,037,348. FOX has a fifty-two week low of $33.78 and a fifty-two week high of $41.95. The firm’s 50-day moving average price is $36.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.60 and a quick ratio of 3.77. The stock has a market cap of $21.97 billion and a P/E ratio of 13.46.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company earned $0.57 EPS. FOX’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, analysts predict that FOX will post 2.48 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new stake in shares of FOX in the first quarter valued at about $397,000. Dimensional Fund Advisors LP increased its stake in shares of FOX by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,594,654 shares of the company’s stock valued at $221,095,000 after buying an additional 15,713 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of FOX by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 13,669,016 shares of the company’s stock valued at $656,632,000 after buying an additional 860,913 shares during the period. 51.29% of the stock is owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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Analyst Recommendations for FOX (NASDAQ:FOXA)

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