JPMorgan Chase & Co. Boosts News (NASDAQ:NWSA) Price Target to $40.00

Key Points

• JPMorgan Chase & Co. has increased its price target for News (NASDAQ:NWSA) from $38.00 to $40.00, suggesting a potential upside of 34.81% from its previous close.
• Currently, News has an average rating of "Buy" among analysts, with a consensus target price of $38.62, despite a recent downgrade by Wall Street Zen to a "hold" rating.
• The company's latest earnings report showed a net margin of 13.21% and a steady revenue growth, with an earnings per share (EPS) matching analysts' expectations at $0.19.

News (NASDAQ:NWSA - Get Free Report) had its price objective upped by research analysts at JPMorgan Chase & Co. from $38.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 34.81% from the stock's previous close.

NWSA has been the subject of a number of other research reports. Wall Street Zen lowered shares of News from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Guggenheim restated a "buy" rating and set a $45.00 price target on shares of News in a report on Thursday, May 15th. Finally, Macquarie restated a "neutral" rating and set a $32.70 price target on shares of News in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $38.62.

News Price Performance

NWSA traded down $0.1780 on Wednesday, hitting $29.6720. 356,242 shares of the stock were exchanged, compared to its average volume of 3,315,258. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 14.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. News has a 12 month low of $23.38 and a 12 month high of $30.75. The business has a 50-day moving average of $29.17 and a two-hundred day moving average of $28.12.

News (NASDAQ:NWSA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. The firm had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. The business's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. Sell-side analysts forecast that News will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On News

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in News during the 4th quarter worth $1,171,000. Townsquare Capital LLC purchased a new position in News during the 4th quarter worth $214,000. Mariner LLC boosted its holdings in News by 1.1% during the 4th quarter. Mariner LLC now owns 59,026 shares of the company's stock worth $1,626,000 after acquiring an additional 631 shares during the last quarter. GeoWealth Management LLC increased its position in shares of News by 275.6% during the fourth quarter. GeoWealth Management LLC now owns 9,537 shares of the company's stock valued at $263,000 after acquiring an additional 6,998 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of News by 132.4% during the fourth quarter. First Trust Advisors LP now owns 468,339 shares of the company's stock valued at $12,898,000 after acquiring an additional 266,803 shares during the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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