News Corp. Now Covered by Analysts at JPMorgan Chase & Co. (NWSA)
Research analysts at JPMorgan Chase & Co. started coverage on shares of News Corp. (NASDAQ: NWSA) in a report released on Monday, AnalystRatingsNetwork.com reports. The firm set a “neutral” rating on the stock.
The analysts wrote, “We are initiating on NWSA with a Neutral rating and December 2014 price target of $16, following its separation from the old News Corp. The new News is a diverse mix of businesses that span three continents. Most of these businesses are in the midst of a transition, which clouds the overall outlook and limits financial visibility. We therefore believe it is prudent to wait on the sidelines on NWSA shares, particularly at the current valuation, until a clearer financial path is delineated in key business segments that will define the outlook.”
A number of other firms have also recently commented on NWSA. Analysts at Wells Fargo & Co. initiated coverage on shares of News Corp. in a research note to investors on Monday. They set an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of News Corp. in a research note to investors on Wednesday, June 19th. They now have a $37.00 price target on the stock. Finally, analysts at BTIG Research reiterated a “neutral” rating on shares of News Corp. in a research note to investors on Wednesday, June 19th. They now have a $30.00 price target on the stock. They noted that the move was a valuation call.
Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $33.57.
Shares of News Corp. (NASDAQ: NWSA) opened at 15.25 on Monday. The stock’s 50-day moving average is currently $0.. The company has a market cap of $35.297 billion and a P/E ratio of 4.58.
News Corp. (NASDAQ: NWSA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.01. The company had revenue of $9.54 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that News Corp. will post $1.64 EPS for the current fiscal year.
News Corporation is a diversified global media company. The Company operates in six segments: Cable Network Programming; Filmed Entertainment; Television; Direct Broadcast Satellite Television; Publishing, and Other.
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