News Corporation (NASDAQ:NWSA) Receives $37.14 Consensus Target Price from Analysts

News Corporation (NASDAQ:NWSA) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $37.14.

Several brokerages have issued reports on NWSA. Wall Street Zen raised News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Zacks Research raised News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price objective on shares of News in a report on Sunday, May 10th. Citigroup dropped their price objective on News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Weiss Ratings lowered News from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th.

Institutional Investors Weigh In On News

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of News by 80.9% during the first quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock worth $101,441,000 after buying an additional 1,819,652 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of News during the first quarter worth about $1,025,000. Janus Henderson Group PLC boosted its stake in shares of News by 82.2% during the first quarter. Janus Henderson Group PLC now owns 405,050 shares of the company’s stock worth $10,092,000 after buying an additional 182,763 shares during the period. Bull Harbor Capital LLC acquired a new stake in shares of News during the first quarter worth about $249,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of News by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock worth $207,000 after buying an additional 1,739 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Stock Performance

NASDAQ:NWSA opened at $25.77 on Friday. The firm has a market capitalization of $14.11 billion, a PE ratio of 12.82 and a beta of 0.89. The business’s fifty day moving average price is $25.27 and its 200 day moving average price is $25.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. News has a 12 month low of $22.20 and a 12 month high of $31.61.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 7th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.News’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. On average, sell-side analysts anticipate that News will post 0.92 earnings per share for the current fiscal year.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.