News Corporation (NASDAQ:NWSA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $26.96 and traded as high as $26.99. News shares last traded at $26.97, with a volume of 3,946,874 shares traded.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NWSA. Zacks Research upgraded News from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Raymond James Financial assumed coverage on News in a research note on Monday, October 19th. They set an "outperform" rating and a $35.00 price target for the company. Weiss Ratings lowered News from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday. JPMorgan Chase & Co. raised their price objective on News from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Friday, August 21st. Finally, Wall Street Zen upgraded News from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 7th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $36.50.
Get Our Latest Stock Analysis on News
News Stock Up 2.7%
The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 24.08 and a beta of 1.01. The firm has a 50 day simple moving average of $29.15 and a 200-day simple moving average of $26.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.50.
News (NASDAQ:NWSA - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. News had a net margin of 6.76% and a return on equity of 7.42%. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that News Corporation will post 1.34 EPS for the current fiscal year.
Hedge Funds Weigh In On News
Several hedge funds have recently added to or reduced their stakes in NWSA. Empowered Funds LLC raised its stake in shares of News by 15.7% during the third quarter. Empowered Funds LLC now owns 18,470 shares of the company's stock worth $529,000 after buying an additional 2,510 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of News by 36.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 17,248 shares of the company's stock worth $494,000 after purchasing an additional 4,587 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of News during the third quarter worth $12,523,000. Bleakley Financial Group LLC increased its holdings in News by 382.2% in the third quarter. Bleakley Financial Group LLC now owns 99,366 shares of the company's stock valued at $2,847,000 after purchasing an additional 78,758 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in News by 0.8% in the third quarter. Gabelli Funds LLC now owns 260,000 shares of the company's stock valued at $7,449,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 66.97% of the company's stock.
About News
(
Get Free Report)
News Corporation is a global media and information services company. Its businesses include Dow Jones, which provides financial news and data through outlets such as The Wall Street Journal; HarperCollins, a book publisher; and News Corp's news media operations, which publish newspapers and digital news services. The company also operates digital real estate businesses, including Realtor.com in the United States and REA Group in Australia. Its brands and services reach audiences and customers across the Americas, Europe, Australia and other international markets.
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