News Corp. Now Covered by Analysts at Bank of America Corp. (NWSA)
Research analysts at Bank of America Corp. initiated coverage on shares of News Corp. (NASDAQ: NWSA) in a report released on Friday, StockRatingsNetwork reports. The firm set a “neutral” rating on the stock.
The analysts wrote, “We initiate new News Corporation (NWSA) with a Neutral rating and a 12-month price objective (PO) of $16. Our SOTP derived PO implies a CY14E EV/EBITDA multiple of 6.7x, a discount to Media & Entertainment peers due to NWSA’s low growth profile, uncertainty surrounding the future profit levels of Newspapers / capital deployment and holdco structure. Although we see substantial value support from cash and visible new media/Pay TV assets (cash + REA + Foxtel all at face value = 82% of the current market cap.), we believe NWSA shares will likely be range bound over the near to medium term until visibility improves.”
A number of other analysts have also recently weighed in on NWSA. Analysts at Ned Davis Research initiated coverage on shares of News Corp. in a research note to investors on Monday. They set a “neutral” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of News Corp. in a research note to investors on Tuesday, July 2nd. They set a “buy” rating on the stock. Finally, analysts at Lazard Ltd. initiated coverage on shares of News Corp. in a research note to investors on Monday, July 1st. They set a “neutral” rating on the stock.
Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. News Corp. currently has an average rating of “Buy” and a consensus price target of $32.52.
News Corp. (NASDAQ: NWSA) opened at 15.13 on Friday. News Corp. has a 1-year low of $21.28 and a 1-year high of $34.04. The stock’s 50-day moving average is currently $32.32.
News Corp. (NASDAQ: NWSA) last released its earnings data on Wednesday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the 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 $0.52 EPS for the current fiscal year.
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.
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