News Corporation (NASDAQ:NWS - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $32.88 and traded as high as $33.50. News shares last traded at $33.39, with a volume of 1,807,430 shares changing hands.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on NWS. Weiss Ratings raised shares of News from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, October 26th. Zacks Research cut shares of News from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".
Read Our Latest Analysis on NWS
News Stock Up 4.1%
The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 32.42 and a beta of 1.00. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $32.88 and a two-hundred day moving average price of $30.47.
News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.27 billion. News had a return on equity of 7.09% and a net margin of 6.35%. As a group, sell-side analysts expect that News Corporation will post 1.31 earnings per share for the current year.
Hedge Funds Weigh In On News
A number of institutional investors have recently made changes to their positions in NWS. Lido Advisors LLC increased its holdings in shares of News by 102.8% in the 3rd quarter. Lido Advisors LLC now owns 19,174 shares of the company's stock valued at $608,000 after acquiring an additional 9,719 shares during the last quarter. AlphaCore Capital LLC lifted its stake in News by 185.7% during the third quarter. AlphaCore Capital LLC now owns 2,091 shares of the company's stock worth $66,000 after purchasing an additional 1,359 shares during the last quarter. Ethic Inc. lifted its stake in News by 2.3% during the third quarter. Ethic Inc. now owns 20,039 shares of the company's stock worth $636,000 after purchasing an additional 448 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in News in the third quarter worth $288,000. Finally, Rakuten Investment Management Inc. boosted its holdings in News by 6.8% in the third quarter. Rakuten Investment Management Inc. now owns 13,640 shares of the company's stock worth $430,000 after purchasing an additional 866 shares during the period. 14.63% of the stock is owned by institutional investors and hedge funds.
About News
(
Get Free Report)
News Corporation NASDAQ: NWS is a global media and information services company with businesses spanning news, publishing, digital real estate services and subscription-based content. The company operates through a portfolio of brands that serve consumers, professionals and businesses across multiple markets.
Its major operations include Dow Jones, which provides business news, financial information and data through publications such as The Wall Street Journal and Barron's; News Corp Australia and News UK, which publish newspapers and digital news platforms; and HarperCollins Publishers, a global book publishing company.
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