Cfra Reaffirms “Sell” Rating for FOX (NASDAQ:FOXA)

Cfra reiterated their sell rating on shares of FOX (NASDAQ:FOXA) in a research report report published on Wednesday morning, Benzinga reports.

Several other research analysts have also weighed in on FOXA. Bank of America boosted their price target on FOX from $45.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday. Seaport Res Ptn lowered FOX from a strong-buy rating to a hold rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on FOX from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Wednesday. Evercore ISI boosted their price target on FOX from $33.00 to $38.00 and gave the stock an in-line rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on FOX from $39.00 to $42.00 and gave the stock a buy rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $39.64.

FOX Trading Down 0.1 %

NASDAQ FOXA opened at $42.27 on Wednesday. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.85 and a beta of 0.76. The stock’s 50 day moving average price is $39.59 and its two-hundred day moving average price is $35.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. FOX has a 52 week low of $28.28 and a 52 week high of $42.63.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, analysts anticipate that FOX will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.27 dividend. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date was Wednesday, September 4th. FOX’s dividend payout ratio is currently 16.93%.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

Institutional Trading of FOX

A number of institutional investors have recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV lifted its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after acquiring an additional 461 shares during the period. UMB Bank n.a. lifted its position in shares of FOX by 254.4% during the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares during the period. Friedenthal Financial bought a new stake in shares of FOX during the 2nd quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX during the 2nd quarter worth $52,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of FOX during the 1st quarter worth $66,000. 52.52% of the stock is currently owned by institutional investors.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.