News (NASDAQ:NWS) Hits New 12-Month High - Here's What Happened

Key Points

• News Corp. shares reached a new 52-week high of $35.32, up modestly from the prior close, with the stock’s market capitalization at approximately $19.07 billion.
• Analyst views were mixed: Weiss Ratings upgraded the stock to “buy,” while Zacks Research downgraded it to “hold.” Overall, MarketBeat reported a consensus rating of “Moderate Buy.”
• News Corp. reported quarterly earnings of $0.35 per share, beating estimates of $0.24, while revenue matched forecasts at $2.25 billion. The company also declared a $0.10 dividend, and institutional investors—including Vanguard and L1 Capital—expanded their holdings.

Shares of News Corporation (NASDAQ:NWS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $35.32 and last traded at $35.31, with a volume of 379872 shares trading hands. The stock had previously closed at $35.15.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NWS shares. Weiss Ratings upgraded shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, July 13th. Zacks Research lowered News from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

News Stock Up 0.3%

The stock has a market cap of $19.07 billion, a P/E ratio of 34.21 and a beta of 0.88. The company's fifty day moving average price is $31.32 and its 200-day moving average price is $29.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62.

News (NASDAQ:NWS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. News had a net margin of 6.35% and a return on equity of 7.09%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. Equities analysts forecast that News Corporation will post 1.31 EPS for the current year.

News Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 9th. This represents a dividend yield of 60.0%. News's dividend payout ratio is presently 19.42%.

Hedge Funds Weigh In On News

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of News by 15.2% in the 4th quarter. Vanguard Group Inc. now owns 10,163,392 shares of the company's stock valued at $301,141,000 after buying an additional 1,344,287 shares in the last quarter. L1 Capital Pty Ltd increased its position in shares of News by 26.2% during the fourth quarter. L1 Capital Pty Ltd now owns 4,273,704 shares of the company's stock worth $126,630,000 after purchasing an additional 886,156 shares in the last quarter. Geode Capital Management LLC increased its position in shares of News by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,728,263 shares of the company's stock worth $110,314,000 after purchasing an additional 124,871 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of News by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,960,509 shares of the company's stock valued at $67,733,000 after purchasing an additional 7,675 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of News by 2,991.9% in the 4th quarter. Bank of Montreal Can now owns 1,947,039 shares of the company's stock worth $57,691,000 after purchasing an additional 1,884,066 shares in the last quarter. 14.63% of the stock is owned by hedge funds and other institutional investors.

About News

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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