FOX’s (FOXA) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of FOX (NASDAQ:FOXA) in a research note released on Thursday, AnalystRatings.com reports.

FOXA has been the topic of several other reports. Zacks Investment Research raised FOX from a sell rating to a hold rating in a research report on Tuesday, August 27th. BidaskClub lowered FOX from a hold rating to a sell rating in a research report on Saturday, August 24th. Evercore ISI reaffirmed a buy rating and issued a $45.00 target price on shares of FOX in a research report on Thursday, August 8th. Macquarie lowered FOX from a neutral rating to an underperform rating and dropped their target price for the stock from $35.00 to $30.00 in a research report on Monday, September 9th. Finally, Wells Fargo & Co started coverage on FOX in a research report on Monday, September 23rd. They issued an underperform rating and a $30.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. FOX presently has a consensus rating of Hold and a consensus price target of $41.89.

NASDAQ FOXA traded up $0.20 on Thursday, reaching $35.14. The company had a trading volume of 4,979,800 shares, compared to its average volume of 5,333,419. FOX has a 1 year low of $29.69 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.78 and a quick ratio of 3.12. The firm has a 50-day moving average of $31.93 and a 200-day moving average of $34.80. The firm has a market capitalization of $20.38 billion and a PE ratio of 13.36.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, November 6th. The company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the business earned $0.52 earnings per share. FOX’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts expect that FOX will post 2.34 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System acquired a new position in FOX during the third quarter worth about $31,662,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in FOX during the third quarter worth about $41,569,000. Great West Life Assurance Co. Can acquired a new position in FOX during the third quarter worth about $6,856,000. Crossmark Global Holdings Inc. acquired a new position in FOX during the third quarter worth about $763,000. Finally, Tweedy Browne Co LLC acquired a new position in FOX during the third quarter worth about $40,985,000. 55.84% of the stock is currently owned by hedge funds and other institutional investors.

FOX Company Profile

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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