News Corporation (NASDAQ:NWSA – Get Free Report) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $26.96 and traded as low as $26.47. News shares last traded at $26.48, with a volume of 9,751,792 shares.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Wall Street Zen downgraded News from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Raymond James Financial began coverage on News in a research note on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective for the company. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on News from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, News currently has a consensus rating of “Moderate Buy” and an average target price of $37.80.
News Price Performance
The stock has a fifty day moving average of $29.66 and a two-hundred day moving average of $26.96. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 23.64 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.
News (NASDAQ:NWSA – Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. News had a return on equity of 7.40% and a net margin of 6.76%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company earned $0.22 earnings per share. News’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that News Corporation will post 1.30 earnings per share for the current year.
Hedge Funds Weigh In On News
Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of News by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company’s stock valued at $105,842,000 after purchasing an additional 94,368 shares during the period. Bank of America Corp DE grew its position in News by 80.9% during the first quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock worth $101,441,000 after buying an additional 1,819,652 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in News during the third quarter worth about $79,840,000. Sei Investments Co. grew its position in News by 120.6% during the first quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after buying an additional 1,272,083 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in News by 174.3% in the first quarter. Quantinno Capital Management LP now owns 1,911,329 shares of the company’s stock valued at $47,649,000 after buying an additional 1,214,648 shares in the last quarter. Hedge funds and other 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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