Zacks Research upgraded shares of News (NASDAQ:NWSA – Free Report) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.
Several other research firms also recently issued reports on NWSA. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Citigroup dropped their price target on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley reissued an “overweight” rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Finally, Weiss Ratings raised News from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.14.
Read Our Latest Stock Report on News
News Price Performance
News (NASDAQ:NWSA – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.News’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. Equities research analysts expect that News will post 0.92 earnings per share for the current year.
Institutional Investors Weigh In On News
Several institutional investors and hedge funds have recently made changes to their positions in NWSA. Swedbank AB raised its holdings in shares of News by 77.3% during the fourth quarter. Swedbank AB now owns 192,326 shares of the company’s stock valued at $5,024,000 after purchasing an additional 83,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in News by 14.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 823,989 shares of the company’s stock valued at $21,580,000 after purchasing an additional 102,259 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in News during the 3rd quarter worth approximately $8,799,000. JPMorgan Chase & Co. raised its stake in shares of News by 22.9% in the third quarter. JPMorgan Chase & Co. now owns 1,770,946 shares of the company’s stock worth $54,389,000 after purchasing an additional 330,513 shares during the last quarter. Finally, Avanza Fonder AB lifted its holdings in shares of News by 98.3% in the fourth quarter. Avanza Fonder AB now owns 50,153 shares of the company’s stock valued at $1,310,000 after purchasing an additional 24,862 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.
About News
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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