Shares of News Corporation (NASDAQ:NWSA – Get Free Report) have been assigned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.14.
NWSA has been the subject of several analyst reports. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 target price on shares of News in a research note on Sunday, May 10th. Finally, Citigroup decreased their price target on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th.
News Price Performance
News (NASDAQ:NWSA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.05. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that News will post 0.92 earnings per share for the current year.
Institutional Investors Weigh In On News
Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in News in the third quarter valued at approximately $31,000. CYBER HORNET ETFs LLC purchased a new position in News during the second quarter worth approximately $30,000. Advisory Services Network LLC acquired a new position in shares of News in the 3rd quarter valued at $35,000. Brown Brothers Harriman & Co. boosted its holdings in shares of News by 154.5% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock valued at $39,000 after purchasing an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after buying an additional 1,470 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.
News Company Profile
News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.
In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.
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