Zacks Investment Research downgraded shares of News (NASDAQ:NWSA) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “News Corporation is in a transitionary phase looking to diversify its revenue streams through strategic acquisitions and operational enhancement. The company is expanding its digital offerings, along with greater emphasis on real estate businesses and augmenting digital subscriber base. Further, it has been concentrating on cost cutting. These endeavors have helped the stock to outpace the industry so far in the year and facilitated to post fourth straight quarter of positive earnings surprise in the first quarter of fiscal 2018. Top line also came ahead of the consensus mark and grew year over year. The quarter marked robust performance at Digital Real Estate Services and Cable Network Programming segments. News and Information Services and Book Publishing divisions also contributed to the results. However, this diversified media conglomerate continues to remain vulnerable to foreign currency headwinds and soft print advertising demand.”

Separately, TheStreet upgraded News from a c+ rating to a b- rating in a research note on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $15.40.

News (NASDAQ:NWSA) traded down $0.37 during mid-day trading on Tuesday, hitting $16.22. The company had a trading volume of 2,410,000 shares, compared to its average volume of 1,921,237. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $9,665.68, a price-to-earnings ratio of 37.71, a PEG ratio of 3.37 and a beta of 2.06. News has a 1-year low of $11.41 and a 1-year high of $16.87.

News (NASDAQ:NWSA) last released its quarterly earnings results on Thursday, November 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.98 billion. News had a positive return on equity of 2.27% and a negative net margin of 7.96%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.01) EPS. research analysts predict that News will post 0.49 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in shares of News by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 958,644 shares of the company’s stock worth $12,712,000 after buying an additional 37,644 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of News by 640.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 87,643 shares of the company’s stock worth $1,162,000 after buying an additional 75,814 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of News during the 3rd quarter worth $140,000. Chevy Chase Trust Holdings Inc. raised its holdings in shares of News by 1.7% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 334,882 shares of the company’s stock worth $4,441,000 after buying an additional 5,522 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of News during the 3rd quarter worth $238,000. Hedge funds and other institutional investors own 60.97% of the company’s stock.

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News Company Profile

News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.

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