News (NASDAQ:NWSA) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday, Briefing.com reports. The brokerage presently has a $23.00 target price on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 20.17% from the stock’s current price.
Separately, Zacks Investment Research cut News from a “buy” rating to a “hold” rating and set a $17.00 target price on the stock. in a research note on Friday, November 13th.
Shares of NWSA opened at $19.14 on Wednesday. The business’s 50-day moving average price is $18.25 and its 200 day moving average price is $15.63. The stock has a market capitalization of $11.30 billion, a P/E ratio of -11.19 and a beta of 1.61. News has a 1-year low of $7.90 and a 1-year high of $19.45. The company has a current ratio of 1.25, a quick ratio of 1.18 and a debt-to-equity ratio of 0.14.
News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.04. News had a positive return on equity of 1.70% and a negative net margin of 11.47%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the business posted $0.04 EPS. News’s revenue was down 9.5% on a year-over-year basis. On average, research analysts predict that News will post 0.23 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of News by 1.8% during the third quarter. California State Teachers Retirement System now owns 715,706 shares of the company’s stock valued at $10,034,000 after purchasing an additional 12,863 shares during the period. IFP Advisors Inc increased its position in shares of News by 1,359.9% during the third quarter. IFP Advisors Inc now owns 11,431 shares of the company’s stock valued at $159,000 after purchasing an additional 10,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of News by 294.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 202,009 shares of the company’s stock valued at $2,832,000 after purchasing an additional 150,812 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of News by 60.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 86,759 shares of the company’s stock valued at $1,216,000 after purchasing an additional 32,833 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of News by 32.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,600,638 shares of the company’s stock valued at $22,441,000 after purchasing an additional 394,159 shares during the period. Institutional investors and hedge funds own 61.15% of the company’s stock.
News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron’s, and MarketWatch through various media channels, such as newspapers, newswires, websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, videos, and podcasts.
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