News Corp. (NWS) Given Consensus Recommendation of “Buy” by Brokerages
News Corp. (NASDAQ:NWS) has been assigned an average rating of “Buy” from the six research firms that are presently covering the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.00.
Separately, TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th.
Shares of News Corp. (NASDAQ:NWS) traded up 1.09% during trading on Tuesday, reaching $13.95. 481,090 shares of the company’s stock traded hands. The stock has a market capitalization of $8.09 billion, a PE ratio of 45.74 and a beta of 1.89. The company has a 50 day moving average price of $14.27 and a 200 day moving average price of $13.14. News Corp. has a 1-year low of $10.74 and a 1-year high of $15.74.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/news-corp-nws-given-consensus-recommendation-of-buy-by-brokerages.html
The company also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s dividend payout ratio is currently 66.67%.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of News Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the transaction, the chief financial officer now directly owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 39.40% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc raised its position in News Corp. by 0.3% in the second quarter. World Asset Management Inc now owns 10,860 shares of the company’s stock valued at $127,000 after buying an additional 31 shares in the last quarter. Advantus Capital Management Inc raised its position in News Corp. by 1.5% in the second quarter. Advantus Capital Management Inc now owns 10,343 shares of the company’s stock valued at $121,000 after buying an additional 148 shares during the period. Aviva PLC raised its position in News Corp. by 0.6% in the first quarter. Aviva PLC now owns 54,134 shares of the company’s stock valued at $717,000 after buying an additional 303 shares during the period. Capstone Asset Management Co. raised its position in News Corp. by 2.2% in the third quarter. Capstone Asset Management Co. now owns 16,200 shares of the company’s stock valued at $230,000 after buying an additional 350 shares during the period. Finally, Highland Capital Management LLC raised its position in News Corp. by 1.2% in the third quarter. Highland Capital Management LLC now owns 34,024 shares of the company’s stock valued at $484,000 after buying an additional 400 shares during the period. 10.55% of the stock is currently owned by institutional investors and hedge funds.
News Corp. Company Profile
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. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
Receive News & Ratings for News Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News Corp. and related companies with MarketBeat.com's FREE daily email newsletter.