News (NASDAQ:NWSA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of News (NASDAQ:NWSA) from a buy rating to a strong-buy rating in a report released on Saturday,Wall Street Zen reports.

Several other equities research analysts have also commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 price objective on shares of News in a research report on Thursday, August 6th. Raymond James Financial assumed coverage on shares of News in a report on Monday, October 19th. They set an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Finally, Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.80.

News Stock Up 0.7%

NWSA opened at $26.57 on Friday. The business’s fifty day moving average is $29.48 and its two-hundred day moving average is $26.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 23.72 and a beta of 1.01. News has a one year low of $22.20 and a one year high of $31.66.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. News had a return on equity of 7.40% and a net margin of 6.76%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter last year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts anticipate that News will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On News

Institutional investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of News during the third quarter valued at $25,000. Elevation Wealth Partners LLC raised its stake in News by 282.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock valued at $50,000 after purchasing an additional 1,501 shares during the last quarter. Provenance Wealth Advisors LLC acquired a new position in News in the 3rd quarter valued at about $73,000. IFP Advisors Inc lifted its holdings in News by 79.0% in the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares in the last quarter. Finally, State of Wyoming purchased a new position in News in the 3rd quarter valued at about $142,000. 66.97% of the stock is owned by institutional investors and hedge funds.

About News

News Corporation is a global media and information services company. Its businesses include Dow Jones, which provides financial news and data through outlets such as The Wall Street Journal; HarperCollins, a book publisher; and News Corp’s news media operations, which publish newspapers and digital news services.

The company also operates digital real estate businesses, including Realtor.com in the United States and REA Group in Australia. Its brands and services reach audiences and customers across the Americas, Europe, Australia and other international markets.

News Corporation was formed in 2013 when the former News Corporation separated its publishing and media operations from its entertainment businesses.