Goldman Sachs Group upgraded shares of News (NASDAQ:NWSA) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat Ratings reports.
Other research analysts have also issued reports about the company. Loop Capital raised News from a hold rating to a buy rating and set a $17.00 target price on the stock in a report on Tuesday, September 4th. ValuEngine raised News from a hold rating to a buy rating in a report on Tuesday, July 10th. Zacks Investment Research raised News from a sell rating to a hold rating in a report on Tuesday, August 28th. Finally, UBS Group raised News from a sell rating to a neutral rating in a report on Wednesday, August 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. News presently has an average rating of Hold and a consensus price target of $15.50.
Shares of NWSA opened at $12.82 on Tuesday. The firm has a market cap of $7.69 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 4.76 and a beta of 1.86. The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.14. News has a one year low of $12.23 and a one year high of $17.29.
News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.36 billion. News had a positive return on equity of 2.41% and a negative net margin of 16.78%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. Sell-side analysts anticipate that News will post 0.41 EPS for the current year.
The company also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 17th. Investors of record on Wednesday, September 12th will be issued a dividend of $0.10 per share. This represents a yield of 1.47%. The ex-dividend date is Tuesday, September 11th. News’s payout ratio is currently 45.45%.
A number of large investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its holdings in News by 1.3% during the second quarter. Pzena Investment Management LLC now owns 22,271,937 shares of the company’s stock worth $345,215,000 after acquiring an additional 280,602 shares during the period. Independent Franchise Partners LLP boosted its position in shares of News by 15.8% in the 1st quarter. Independent Franchise Partners LLP now owns 7,567,007 shares of the company’s stock valued at $119,558,000 after purchasing an additional 1,029,953 shares during the period. Guggenheim Capital LLC boosted its position in shares of News by 15.6% in the 1st quarter. Guggenheim Capital LLC now owns 2,507,338 shares of the company’s stock valued at $39,617,000 after purchasing an additional 339,163 shares during the period. Bank of Montreal Can boosted its position in shares of News by 9.8% in the 3rd quarter. Bank of Montreal Can now owns 1,164,419 shares of the company’s stock valued at $15,359,000 after purchasing an additional 103,808 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of News by 0.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 577,254 shares of the company’s stock valued at $9,121,000 after purchasing an additional 4,221 shares during the period. 60.88% of the stock is currently owned by hedge funds and other institutional investors.
News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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