Seaport Res Ptn Upgrades FOX (NASDAQ:FOXA) to “Buy”

FOX (NASDAQ:FOXA) was upgraded by equities research analysts at Seaport Res Ptn from a “neutral” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. Seaport Res Ptn also issued estimates for FOX’s Q4 2024 earnings at $0.93 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $0.23 EPS and FY2025 earnings at $4.19 EPS.

Other equities research analysts have also issued research reports about the company. TheStreet lowered FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a research report on Friday, February 23rd. Macquarie upped their target price on FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Wells Fargo & Company dropped their price target on FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $33.40.

FOX Trading Down 0.4 %

Shares of FOXA stock opened at $31.02 on Friday. The firm has a market capitalization of $14.73 billion, a P/E ratio of 18.36, a P/E/G ratio of 0.41 and a beta of 0.78. FOX has a twelve month low of $28.28 and a twelve month high of $35.40. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $30.29 and its 200 day simple moving average is $30.41.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue was down 8.1% on a year-over-year basis. As a group, sell-side analysts predict that FOX will post 3.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FOXA. Empirical Finance LLC grew its stake in shares of FOX by 3.8% in the third quarter. Empirical Finance LLC now owns 10,212 shares of the company’s stock worth $319,000 after purchasing an additional 372 shares during the last quarter. Deane Retirement Strategies Inc. purchased a new position in shares of FOX during the fourth quarter valued at approximately $2,752,000. Federated Hermes Inc. lifted its holdings in shares of FOX by 3.9% during the third quarter. Federated Hermes Inc. now owns 33,935 shares of the company’s stock valued at $1,059,000 after purchasing an additional 1,271 shares during the last quarter. Duality Advisers LP lifted its holdings in shares of FOX by 273.1% during the third quarter. Duality Advisers LP now owns 49,233 shares of the company’s stock valued at $1,536,000 after purchasing an additional 36,038 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of FOX by 66.6% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock valued at $46,935,000 after purchasing an additional 632,522 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

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.