News (NASDAQ:NWSA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded News Corp. (NWSA) from “buy” to “strong-buy,” while analysts collectively assign the stock a “Moderate Buy” rating with an average price target of $38.50.
• News reported quarterly EPS of $0.35, beating estimates of $0.21, alongside revenue of $2.34 billion, up 10.8% year over year and above expectations.
• Shares opened at $28.69, within a 12-month range of $22.20 to $31.66, while institutional investors own approximately 66.97% of the company.

News (NASDAQ:NWSA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Morgan Stanley reiterated an "overweight" rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of News from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Friday, August 21st. Finally, Zacks Research cut News from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.50.

News Price Performance

Shares of News stock opened at $28.69 on Friday. The firm has a market capitalization of $15.52 billion, a PE ratio of 27.85 and a beta of 0.97. 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 12 month low of $22.20 and a 12 month high of $31.66. The business's 50-day moving average price is $29.41 and its 200-day moving average price is $27.15.

News (NASDAQ:NWSA - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. News had a return on equity of 7.09% and a net margin of 6.35%.The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. News's revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts forecast that News will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On News

Institutional investors have recently added to or reduced their stakes in the company. CX Institutional boosted its holdings in shares of News by 13.2% during the third quarter. CX Institutional now owns 12,393 shares of the company's stock worth $355,000 after purchasing an additional 1,442 shares during the period. Andra AP fonden increased its holdings in News by 1,767.4% during the 2nd quarter. Andra AP fonden now owns 268,900 shares of the company's stock valued at $6,677,000 after purchasing an additional 254,500 shares during the period. Sequoia Financial Advisors LLC raised its position in News by 18.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 51,991 shares of the company's stock valued at $1,291,000 after purchasing an additional 8,271 shares during the last quarter. Tidal Investments LLC raised its position in News by 1.1% during the 2nd quarter. Tidal Investments LLC now owns 72,008 shares of the company's stock valued at $1,788,000 after purchasing an additional 757 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in News by 796.0% in the 2nd quarter. Engineers Gate Manager LP now owns 364,795 shares of the company's stock worth $9,058,000 after buying an additional 324,081 shares during the period. Hedge funds and other institutional investors own 66.97% of the company's stock.

News Company Profile

News Corp NASDAQ: NWSA is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company's Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron's, MarketWatch, Factiva and Dow Jones Newswires.

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