Zacks Research Downgrades News (NASDAQ:NWS) to Hold

Key Points

• Zacks Research downgraded News Corp. (NASDAQ: NWS) from “strong buy” to “hold,” while Weiss Ratings separately upgraded the stock to “buy.” MarketBeat’s overall analyst consensus remains “Moderate Buy.”
• NWS shares opened at $31.27, with a 12-month range of $25.49 to $35.58 and a market capitalization of approximately $17.12 billion.
• News reported quarterly EPS of $0.21, beating estimates of $0.14, although revenue of $2.08 billion fell short of the $2.12 billion consensus. Institutional investors and hedge funds own 14.63% of the company.

News (NASDAQ:NWS - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings raised shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, July 13th. 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, News currently has an average rating of "Moderate Buy".

News Stock Performance

Shares of NWS stock opened at $31.27 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. News has a 12-month low of $25.49 and a 12-month high of $35.58. The business has a 50 day simple moving average of $30.28 and a 200 day simple moving average of $29.23. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 15.56 and a beta of 0.88.

News (NASDAQ:NWS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. The company had revenue of $2.08 billion during the quarter, compared to analysts' expectations of $2.12 billion. News had a return on equity of 6.12% and a net margin of 12.92%. On average, equities research analysts anticipate that News will post 1.1 EPS for the current year.

Institutional Investors Weigh In On News

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hartford Investment Management Co. raised its position in shares of News by 5.4% during the fourth quarter. Hartford Investment Management Co. now owns 7,212 shares of the company's stock worth $214,000 after purchasing an additional 369 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of News by 5.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 7,623 shares of the company's stock valued at $217,000 after acquiring an additional 384 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in News by 21.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company's stock worth $65,000 after purchasing an additional 397 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of News by 2.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 19,333 shares of the company's stock valued at $664,000 after purchasing an additional 435 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of News by 11.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 4,454 shares of the company's stock valued at $133,000 after buying an additional 440 shares in the last quarter. Institutional investors and hedge funds own 14.63% of the company's stock.

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.

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