News Corporation (NASDAQ:NWS - Get Free Report) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 9,796,283 shares, an increase of 15.2% from the March 31st total of 8,506,206 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average trading volume of 1,017,953 shares, the days-to-cover ratio is currently 9.6 days.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Weiss Ratings cut News from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. Zacks Research cut News from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, News has an average rating of "Hold".
Check Out Our Latest Report on NWS
Institutional Trading of News
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new position in shares of News in the second quarter worth approximately $30,000. Smartleaf Asset Management LLC raised its holdings in News by 97.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,178 shares of the company's stock valued at $41,000 after buying an additional 580 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in News during the 4th quarter valued at $37,000. Arax Advisory Partners bought a new stake in News in the 4th quarter worth $47,000. Finally, Resona Asset Management Co. Ltd. increased its position in shares of News by 69.0% in the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company's stock valued at $49,000 after acquiring an additional 665 shares during the period. Institutional investors own 14.63% of the company's stock.
News Price Performance
NWS stock opened at $30.48 on Friday. The firm has a market cap of $16.93 billion, a P/E ratio of 15.01 and a beta of 0.90. The firm's fifty day moving average is $28.10 and its 200 day moving average is $28.96. News has a 52 week low of $25.49 and a 52 week high of $35.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81.
News (NASDAQ:NWS - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.15. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.30 billion. News had a net margin of 13.35% and a return on equity of 5.94%. Research analysts predict that News will post 0.97 earnings per share for the current year.
News Announces Dividend
The business also recently declared a dividend, which was paid on Wednesday, April 8th. Investors of record on Wednesday, March 11th were given a dividend of $0.10 per share. This represents a yield of 73.0%. The ex-dividend date was Wednesday, March 11th. News's dividend payout ratio (DPR) is presently 9.85%.
News Company Profile
(
Get Free Report)
News Corporation NASDAQ: NWS is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company's operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.
Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.
See Also
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