Citigroup Cuts News (NASDAQ:NWSA) Price Target to $38.00

News (NASDAQ:NWSA) had its price objective lowered by Citigroup from $39.00 to $38.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently commented on NWSA. Weiss Ratings cut shares of News from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Zacks Research raised shares of News from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 5th. Finally, Wall Street Zen cut shares of News from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

News Price Performance

NWSA opened at $25.92 on Wednesday. News has a one year low of $22.20 and a one year high of $31.61. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.70 and a quick ratio of 1.59. The company’s 50 day simple moving average is $25.17 and its 200-day simple moving average is $25.41. The stock has a market capitalization of $14.19 billion, a P/E ratio of 12.90 and a beta of 0.89.

News (NASDAQ:NWSA) last released its quarterly 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. News had a net margin of 12.92% and a return on equity of 6.12%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the firm earned $0.17 earnings per share. News’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that News will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On News

Several hedge funds have recently bought and sold shares of NWSA. CYBER HORNET ETFs LLC acquired a new stake in News in the second quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in News in the third quarter worth $31,000. Root Financial Partners LLC acquired a new stake in News in the third quarter worth $35,000. Advisory Services Network LLC acquired a new stake in News in the third quarter worth $35,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Company Profile

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.