Jefferies Group Initiates Coverage on News Corp (NWSA)
Stock analysts at Jefferies Group initiated coverage on shares of News Corp (NASDAQ:NWSA) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Shares of News Corp (NASDAQ:NWSA) traded up 1.26% during mid-day trading on Wednesday, hitting $17.71. 3,172,573 shares of the company’s stock traded hands. News Corp has a 1-year low of $14.39 and a 1-year high of $18.53. The stock has a 50-day moving average of $17.32 and a 200-day moving average of $17.31. The company’s market cap is $10.254 billion.
News Corp (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.08. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. Analysts expect that News Corp will post $0.49 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of News Corp in a research note on Wednesday, May 14th. They now have a $19.00 price target on the stock. Analysts at Credit Suisse upgraded shares of News Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 1st. They now have a $19.20 price target on the stock, up previously from $18.50. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. News Corp presently has a consensus rating of “Hold” and an average price target of $18.08.
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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