News Corp Sees Significant Drop in Short Interest (NWSA)
News Corp (NASDAQ:NWSA) was the target of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 12,156,515 shares, a drop of 12.1% from the July 31st total of 13,828,334 shares, American Banking News reports. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 4,592,030 shares, the days-to-cover ratio is presently 2.6 days.
Several analysts have recently commented on the stock. Analysts at Evercore Partners raised their price target on shares of News Corp from $18.00 to $19.00 in a research note on Friday, August 15th. They now have an “equal weight” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of News Corp in a research note on Monday, August 11th. They now have a $18.00 price target on the stock. Finally, analysts at Credit Agricole downgraded shares of News Corp from an “outperform” rating to an “underperform” rating in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.10.
Shares of News Corp (NASDAQ:NWSA) opened at 17.43 on Wednesday. News Corp has a one year low of $15.44 and a one year high of $18.53. The stock has a 50-day moving average of $17.69 and a 200-day moving average of $17.52. The company has a market cap of $10.093 billion and a price-to-earnings ratio of 43.09.
News Corp (NASDAQ:NWSA) last announced its earnings results on Thursday, August 7th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.02. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.17 billion. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts predict that News Corp will post $0.45 earnings per share 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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