News (NASDAQ:NWSA – Get Free Report) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.
NWSA has been the subject of several other reports. Zacks Research cut shares of News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $35.00 price target on shares of News in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Weiss Ratings raised shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Finally, Raymond James Financial initiated coverage on shares of News in a research report on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, News presently has an average rating of “Moderate Buy” and a consensus target price of $37.80.
Read Our Latest Analysis on News
News Price Performance
NASDAQ NWSA opened at $30.74 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News has a 1-year low of $22.20 and a 1-year high of $31.66. The company has a 50 day moving average of $29.78 and a 200-day moving average of $27.74. The company has a market cap of $16.63 billion, a price-to-earnings ratio of 29.84 and a beta of 0.97.
News (NASDAQ:NWSA – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. News’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. On average, equities research analysts expect that News will post 1.30 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of News in the 3rd quarter valued at approximately $25,000. Elevation Wealth Partners LLC increased its position in News by 282.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after purchasing an additional 1,501 shares in the last quarter. Root Financial Partners LLC increased its position in News by 96.2% during the 1st quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock worth $55,000 after purchasing an additional 1,073 shares in the last quarter. IFP Advisors Inc lifted its stake in News by 79.0% in the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in News in the third quarter valued at approximately $217,000. Institutional investors own 66.97% of the company’s stock.
News Company Profile
News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.
Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.
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