News (NASDAQ:NWS – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.
Separately, Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.
News Stock Up 3.1%
News (NASDAQ:NWS – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.07. News had a return on equity of 6.12% and a net margin of 12.92%.The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.12 billion. Sell-side analysts forecast that News will post 0.96 earnings per share for the current year.
Hedge Funds Weigh In On News
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ghisallo Capital Management LLC purchased a new stake in News in the third quarter worth about $4,358,000. Vanguard Group Inc. grew its holdings in shares of News by 15.2% during the 4th quarter. Vanguard Group Inc. now owns 10,163,392 shares of the company’s stock worth $301,141,000 after acquiring an additional 1,344,287 shares during the period. Regal Partners Ltd grew its holdings in shares of News by 218.8% during the 3rd quarter. Regal Partners Ltd now owns 199,015 shares of the company’s stock worth $6,876,000 after acquiring an additional 136,590 shares during the period. JPMorgan Chase & Co. raised its position in shares of News by 14.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 661,412 shares of the company’s stock worth $22,852,000 after acquiring an additional 81,986 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of News by 896.1% in the 4th quarter. CWM LLC now owns 55,780 shares of the company’s stock valued at $1,653,000 after purchasing an additional 50,180 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.
About News
News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.
Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.
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