News (NASDAQ:NWSA) PT Raised to $29.00 at JPMorgan Chase & Co.

News (NASDAQ:NWSA) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $28.00 to $29.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 37.90% from the company’s previous close.

A number of other analysts have also recently weighed in on NWSA. Morgan Stanley started coverage on News in a research note on Wednesday, August 16th. They issued an “overweight” rating and a $27.50 price target on the stock. StockNews.com cut News from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Guggenheim lifted their target price on News from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.38.

News Trading Down 0.2 %

NASDAQ:NWSA opened at $21.03 on Thursday. The firm has a market cap of $12.02 billion, a PE ratio of 84.12 and a beta of 1.35. The stock has a fifty day moving average price of $20.66 and a 200 day moving average price of $19.90. News has a 12-month low of $15.57 and a 12-month high of $22.32. The company has a current ratio of 1.31, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. News had a return on equity of 3.40% and a net margin of 1.40%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period last year, the firm earned $0.12 earnings per share. News’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that News will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of News

Hedge funds and other institutional investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina grew its holdings in shares of News by 0.9% during the first quarter. Treasurer of the State of North Carolina now owns 169,341 shares of the company’s stock worth $2,925,000 after buying an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of News by 2.8% during the first quarter. Daiwa Securities Group Inc. now owns 27,451 shares of the company’s stock worth $474,000 after buying an additional 753 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of News by 66.9% during the second quarter. National Bank of Canada FI now owns 95,037 shares of the company’s stock worth $1,858,000 after buying an additional 38,085 shares during the last quarter. Citigroup Inc. grew its holdings in shares of News by 20.4% during the first quarter. Citigroup Inc. now owns 127,794 shares of the company’s stock worth $2,207,000 after buying an additional 21,631 shares during the last quarter. Finally, Mint Tower Capital Management B.V. grew its holdings in shares of News by 1,961.4% during the first quarter. Mint Tower Capital Management B.V. now owns 38,032 shares of the company’s stock worth $657,000 after buying an additional 36,187 shares during the last quarter. Institutional investors and hedge funds own 65.55% of the company’s stock.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services 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.