StockNews.com Upgrades FOX (NASDAQ:FOXA) to Buy

On Friday, analysts from StockNews.com officially upgraded FOX (NASDAQ:FOXA) from a "hold" rating to a "buy" rating. This change reflects a more positive outlook on the stock's potential for growth.

Recent Analyst Reports

In addition to StockNews.com's upgrade, several other analysts have recently shared their evaluations of FOX. On November 5th, JPMorgan Chase & Co. raised their price target for FOX from $41.00 to $42.00, maintaining a "neutral" rating. Similarly, Macquarie reiterated a "neutral" rating with a price target of $43.00 for the shares. On October 8th, Loop Capital increased their price target for FOX from $43.00 to $46.00, assigning a "buy" rating. UBS Group also boosted their target from $44.00 to $50.00 and included a "buy" rating in their report on November 5th. In contrast, Seaport Res Ptn downgraded the stock from a "strong-buy" to a "hold" rating on September 9th. Currently, one analyst has rated FOX with a sell, nine with a hold, and nine with a buy rating, yielding a consensus rating of "Hold" with an average price target of $44.00.

Stock Performance Overview

On Friday, FOX shares experienced an uptick, rising by $0.35 to reach $47.00. Trading volume for the day reached 4,230,699 shares, surpassing the average volume of 3,079,012. The current stock has a 50-day simple moving average of $43.87 and a 200-day average of $39.48. Financial metrics reveal a current ratio of 2.59, a quick ratio of 2.33, and a debt-to-equity ratio of 0.58. FOX Corporation boasts a market capitalization of $21.47 billion, with a price-to-earnings (PE) ratio of 11.49 and a price-to-earnings growth (PEG) ratio of 1.19. Over the past year, the stock hit a low of $28.28 and a high of $47.58.

Quarterly Results

FOX recently announced its quarterly earnings on November 4th, revealing an earnings per share (EPS) of $1.45, which exceeded analysts' expectations of $1.12 by $0.33. The company reported revenues totaling $3.56 billion for the quarter, outpacing the consensus estimate of $3.38 billion. FOX's net profit margin stands at 13.40%, and it achieved a return on equity of 16.49%. Revenue increased by 11.1% compared to the same quarter the previous year, marking a rise from the year-ago EPS of $1.09. Analysts forecast that FOX will report an EPS of 3.94 for the current year.

Insider Trading Activity

In terms of insider transactions, Chairman Keith Rupert Murdoch sold 100,000 shares on November 6th at an average price of $42.05, totaling approximately $4.21 million. This sale decreased Murdoch's position by 7.36%. Following this transaction, he still holds about 1,258,862 shares worth approximately $52.94 million. Additionally, COO John Nallen sold 182,481 shares on November 5th at an average price of $43.73, generating nearly $7.98 million. Post-sale, Nallen retains 249,424 shares in the company, valued at about $10.91 million, which is a 42.25% reduction in his ownership. Over the past three months, insiders sold 469,352 shares valued at $20.82 million, indicating that insiders own about 21.77% of FOX's stock.

Institutional Investor Moves

Several institutional investors and hedge funds have recently adjusted their positions in FOX. Quest Partners LLC acquired a new position valued at around $51,000 during the third quarter. Friedenthal Financial also purchased shares worth about $51,000 in the second quarter. Other notable purchases include Duncker Streett & Co. Inc.'s stake of approximately $52,000 and Quarry LP's investment of about $70,000 in the third quarter. Transamerica Financial Advisors Inc. invested about $119,000 in FOX during the same period. Currently, institutional investors and hedge funds hold approximately 52.52% of the company's stock.

Company Overview

Fox Corporation operates in the entertainment sector in the United States, focused primarily on news, sports, and entertainment. The company segments its activities into four main areas: Cable Network Programming, Television, Credible, and The FOX Studio Lot. Through its Cable Network Programming segment, FOX produces and licenses a variety of news and sports content that is distributed via traditional cable systems, satellite providers, telecommunications companies, and through multiple digital platforms across the U.S.

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