News (NASDAQ:NWSA) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

News Corporation (NASDAQ:NWSA – Get Free Report)’s share price passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $29.81 and traded as low as $28.99. News shares last traded at $29.31, with a volume of 4,128,063 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NWSA shares. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. JPMorgan Chase & Co. upped their price objective on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Morgan Stanley reissued an “overweight” rating and set a $35.00 price objective on shares of News in a research report on Thursday, August 6th. Raymond James Financial started coverage on News in a research note on Monday, October 19th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Wall Street Zen lowered News from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Check Out Our Latest Stock Report on NWSA

News Price Performance

The business has a 50-day moving average price of $29.81 and a two-hundred day moving average price of $26.88. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 28.46 and a beta of 0.97.

News (NASDAQ:NWSA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.14. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.19 EPS. As a group, research analysts anticipate that News Corporation will post 1.30 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were paid a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s dividend payout ratio (DPR) is 19.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NWSA. Americana Partners LLC bought a new stake in News in the 3rd quarter worth about $214,000. State of Wyoming purchased a new stake in News in the 3rd quarter valued at about $142,000. Parcion Private Wealth LLC purchased a new stake in News in the 3rd quarter valued at about $574,000. Soltis Investment Advisors LLC bought a new position in shares of News during the 3rd quarter worth approximately $305,000. Finally, Choreo LLC lifted its position in shares of News by 47.8% during the 3rd quarter. Choreo LLC now owns 15,092 shares of the company’s stock worth $434,000 after buying an additional 4,883 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

About News

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for News Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News and related companies with MarketBeat.com's FREE daily email newsletter.