Brokerages Set News Corporation (NASDAQ:NWSA) Target Price at $38.28

Shares of News Corporation (NASDAQ:NWSA) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $37.95.

Several equities analysts recently weighed in on NWSA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Macquarie reaffirmed a “neutral” rating and issued a $32.70 target price on shares of News in a report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their price target on News from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Guggenheim reduced their price objective on News from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th.

News Stock Up 0.7%

Shares of NWSA opened at $25.58 on Friday. The business’s 50 day moving average is $27.11 and its 200 day moving average is $28.34. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21. News has a 12-month low of $23.38 and a 12-month high of $31.61. The company has a market capitalization of $14.36 billion, a PE ratio of 12.36 and a beta of 1.15.

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

Hedge Funds Weigh In On News

Several institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. purchased a new position in shares of News in the 2nd quarter worth $30,000. CYBER HORNET ETFs LLC purchased a new position in News in the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in News during the third quarter worth approximately $31,000. Root Financial Partners LLC purchased a new stake in News during the third quarter valued at approximately $35,000. Finally, Advisory Services Network LLC bought a new stake in shares of News in the 3rd quarter valued at approximately $35,000. Institutional investors own 66.97% 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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.