News (NASDAQ:NWSA) Given New $38.00 Price Target at JPMorgan Chase & Co.

News (NASDAQ:NWSA) had its price target lowered by research analysts at JPMorgan Chase & Co. from $40.00 to $38.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 49.87% from the company’s current price.

Other equities research analysts have also issued reports about the company. Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Macquarie reiterated a “neutral” rating and set a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a report on Wednesday, October 8th. Finally, Guggenheim dropped their price target on News from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, News currently has a consensus rating of “Moderate Buy” and an average target price of $37.95.

News Price Performance

Shares of NASDAQ NWSA traded up $0.13 during midday trading on Tuesday, reaching $25.36. The company’s stock had a trading volume of 639,255 shares, compared to its average volume of 3,540,983. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 12.25 and a beta of 1.15. News has a one year low of $23.38 and a one year high of $31.61. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $27.29 and a 200 day moving average price of $28.38.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. News had a net margin of 13.80% and a return on equity of 5.68%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 16.8% on a year-over-year basis. On average, equities research analysts expect that News will post 0.94 EPS for the current year.

Institutional Trading of News

Several institutional investors and hedge funds have recently made changes to their positions in NWSA. Vanguard Group Inc. boosted its stake in News by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 52,171,790 shares of the company’s stock worth $1,550,546,000 after acquiring an additional 407,293 shares during the last quarter. State Street Corp lifted its holdings in shares of News by 16.5% in the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after purchasing an additional 4,448,929 shares in the last quarter. Independent Franchise Partners LLP boosted its position in News by 7.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock worth $866,948,000 after acquiring an additional 1,980,941 shares during the last quarter. Barclays PLC boosted its holdings in News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock worth $456,830,000 after purchasing an additional 4,214,562 shares during the last quarter. Finally, 59 North Capital Management LP increased its position in shares of News by 10.7% in the third quarter. 59 North Capital Management LP now owns 14,009,242 shares of the company’s stock valued at $430,224,000 after acquiring an additional 1,358,375 shares during the last quarter. Institutional investors own 66.97% of the company’s stock.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.