News (NASDAQ:NWSA – Get Rating) was downgraded to a “hold” rating from a “buy” rating by analysts at StockNews.com in a note issued to investors on Friday.
Several other analysts also recently commented on the stock. Macquarie downgraded News’ shares from an outperform rating to a neutral rating and set a price target of $21.10 for the company. in a research note on Thursday, July 28. Loop Capital downgraded News from a “buy” rating to a “hold” rating in a research report Monday and lowered its price target on the stock to $17.00 from $30.00. Finally, Guggenheim lowered its target price on News to $32.00 in a report Thursday. Three investment analysts have rated the stock with a hold rating and one with a buy rating. According to MarketBeat, the company currently has an average rating of Hold and a consensus target of $23.37.
News price development
News stocks rose $0.51 on Friday midday to hit $17.20. 4,028,407 shares of the Company were exchanged compared to an average volume of 2,914,902. News has a 12-month low of $14.87 and a 12-month high of $25.86. The company has a market cap of $10.00 billion, a P/E of 16.23 and a beta of 1.27. The company’s 50-day simple moving average is $16.62 and its 200-day simple moving average is $17.37. The company has a gearing ratio of 0.30, a current ratio of 1.16 and a quick ratio of 1.07.
News (NASDAQ:NWSA – Get Rating) last released its quarterly earnings data on Monday, August 8th. The company reported $0.37 per share for the quarter, beating analysts’ consensus estimate of $0.11 by $0.26. News had a return on equity of 7.69% and a net margin of 6.00%. The company made $2.67 billion in revenue for the quarter, compared to analysts’ expectations of $2.58 billion. In the same quarter last year, the company posted $0.16 per share. The company’s quarterly revenue increased 7.4% compared to the same quarter last year. Analysts are forecasting that News will report earnings per share of 0.99 for the current fiscal year.
Insider buying and selling
In related news, General Counsel David B. Pitofsky sold 82,028 shares of News in a transaction on Monday, August 15. The shares sold at an average price of $18.73 for a total transaction of $1,536,384.44. Following the transaction, the General Counsel now owns 87,706 shares of the Company, valued at approximately $1,642,733.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. Company insiders own 13.80% of the company’s shares.
Institutional investors evaluate news
A number of hedge funds have recently bought and sold shares in NWSA. Price T Rowe Associates Inc. MD increased its position in News stocks by 23.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 68,042,667 shares of the company’s stock valued at $1,060,105,000 after purchasing an additional 12,921,681 shares last quarter. Metropolis Capital Ltd increased its stake in News shares by 71.2% in the second quarter. Metropolis Capital Ltd now owns 7,423,430 shares of the company’s shares valued at $115,657,000 after purchasing an additional 3,087,650 shares last quarter. Assenagon Asset Management SA increased its stake in News by 6,064.6% in the second quarter. Assenagon Asset Management SA now owns 2,832,630 shares of the company, valued at $44,132,000, after purchasing an additional 2,786,680 shares last quarter. Goldman Sachs Group Inc. increased its stake in News by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 7,262,494 shares of the company’s stock valued at $160,865,000 after purchasing an additional 1,908,096 shares last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in News by 90,759.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,500,091 shares of the company’s stock valued at $23,372,000 after purchasing an additional 1,498,440 shares last quarter. Institutional investors and hedge funds own 64.40% of the company’s shares.
News company profile
News Corporation, a media and information services company, creates and distributes relevant and engaging content and other products and services to 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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