Several other brokerages have also recently weighed in on NWSA. StockNews.com upgraded News from a hold rating to a buy rating in a report on Friday, January 19th. JPMorgan Chase & Co. raised their price objective on News from $28.00 to $29.00 and gave the company an overweight rating in a report on Thursday, November 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $29.50.
News Stock Performance
News (NASDAQ:NWSA – Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.56 billion. News had a return on equity of 4.16% and a net margin of 2.29%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Equities analysts expect that News will post 0.73 EPS for the current fiscal year.
Hedge Funds Weigh In On News
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prestige Wealth Management Group LLC bought a new position in News during the fourth quarter worth about $118,000. ING Groep NV bought a new stake in shares of News during the fourth quarter worth approximately $1,279,000. Quadrant Capital Group LLC boosted its holdings in shares of News by 36.9% during the fourth quarter. Quadrant Capital Group LLC now owns 5,633 shares of the company’s stock worth $138,000 after acquiring an additional 1,518 shares during the period. Inceptionr LLC bought a new stake in shares of News during the fourth quarter worth approximately $200,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of News during the fourth quarter worth approximately $1,255,000. Institutional investors own 65.55% of the company’s stock.
News Company Profile
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.
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