News (NASDAQ:NWS) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of News Corporation (NASDAQ:NWS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.11 and traded as high as $32.66. News shares last traded at $32.54, with a volume of 1,082,974 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NWS shares. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research upgraded shares of News from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

News Trading Down 0.4%

The stock has a 50 day simple moving average of $30.06 and a 200-day simple moving average of $29.13. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $17.75 billion, a P/E ratio of 16.13 and a beta of 0.88.

News (NASDAQ:NWS) last released its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.12 billion. On average, equities research analysts forecast that News Corporation will post 0.96 EPS for the current fiscal year.

Institutional Trading of News

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new stake in shares of News in the second quarter worth approximately $30,000. ExodusPoint Capital Management LP bought a new position in shares of News in the fourth quarter worth about $37,000. Arax Advisory Partners bought a new stake in News during the 4th quarter valued at about $47,000. Resona Asset Management Co. Ltd. grew its stake in News by 69.0% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after acquiring an additional 665 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of News by 74.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after acquiring an additional 878 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.