News (NASDAQ:NWSA) Upgraded at Zacks Research

Zacks Research upgraded shares of News (NASDAQ:NWSA) from a strong sell rating to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

NWSA has been the subject of a number of other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of News in a report on Monday, December 29th. Guggenheim reduced their price objective on shares of News from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. lowered their target price on shares of News from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.34.

News Stock Performance

News stock opened at $26.19 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 1.63. The firm has a market capitalization of $14.71 billion, a P/E ratio of 12.65 and a beta of 0.97. News has a 1-year low of $23.38 and a 1-year high of $31.61. The company’s 50-day moving average is $25.99 and its 200 day moving average is $27.96.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. The business’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Research analysts forecast that News will post 0.94 EPS for the current year.

Institutional Trading of News

A number of hedge funds have recently added to or reduced their stakes in NWSA. Cullen Frost Bankers Inc. purchased a new stake in News in the 2nd quarter worth $30,000. CYBER HORNET ETFs LLC acquired a new position in shares of News during the 2nd quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in News in the 3rd quarter valued at about $31,000. Root Financial Partners LLC acquired a new stake in News in the 3rd quarter worth about $35,000. Finally, Advisory Services Network LLC purchased a new stake in News during the 3rd quarter worth approximately $35,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.