FOX (FOXA) Earns Outperform Rating from Analysts at Credit Suisse Group

Stock analysts at Credit Suisse Group began coverage on shares of FOX (NASDAQ:FOXA) in a research report issued to clients and investors on Thursday, March 21st, Marketbeat.com reports. The brokerage set an “outperform” rating and a $46.00 price target on the stock. Credit Suisse Group’s target price would indicate a potential upside of 22.57% from the company’s current price.

FOXA has been the topic of a number of other reports. Buckingham Research raised their price target on FOX from $52.00 to $54.00 and gave the company a “buy” rating in a report on Monday, February 25th. Societe Generale cut FOX from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Zacks Investment Research raised FOX from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. UBS Group raised their price target on FOX to $52.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. Finally, Moffett Nathanson assumed coverage on FOX in a report on Friday, March 15th. They issued a “buy” rating and a $51.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $47.55.

NASDAQ FOXA remained flat at $$37.53 on Thursday. The company had a trading volume of 3,534,278 shares, compared to its average volume of 7,559,490. FOX has a 12 month low of $35.90 and a 12 month high of $41.95.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, February 6th. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.47 billion. FOX’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, equities analysts anticipate that FOX will post 2.16 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV purchased a new position in FOX in the first quarter worth about $397,000. Centric Wealth Management purchased a new position in FOX in the fourth quarter worth about $235,000. MUFG Securities EMEA plc grew its position in FOX by 1,852.8% in the fourth quarter. MUFG Securities EMEA plc now owns 558,000 shares of the company’s stock worth $26,851,000 after acquiring an additional 529,425 shares in the last quarter. Norges Bank purchased a new position in FOX in the fourth quarter worth about $98,035,000. Finally, Coldstream Capital Management Inc. purchased a new position in FOX in the fourth quarter worth about $210,000.

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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