Jefferies Group LLC Reiterates “Buy” Rating for News Corp (NWSA)
News Corp (NASDAQ:NWSA)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a research report issued to clients and investors on Monday. They currently have a $17.00 price target on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 32.61% from the company’s previous close.
Several other brokerages also recently commented on NWSA. Morgan Stanley reissued an “equal weight” rating and set a $15.00 target price on shares of News Corp in a research note on Monday, March 6th. Guggenheim reissued a “neutral” rating and set a $13.00 target price on shares of News Corp in a research note on Friday, February 10th. Finally, Zacks Investment Research downgraded News Corp from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.75.
News Corp (NASDAQ:NWSA) traded up 2.11% during midday trading on Monday, reaching $13.09. 954,091 shares of the company’s stock traded hands. The company’s market cap is $7.62 billion. News Corp has a 52-week low of $10.54 and a 52-week high of $14.68. The stock has a 50-day moving average of $12.72 and a 200 day moving average of $12.36.
News Corp (NASDAQ:NWSA) last issued its earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. News Corp had a positive return on equity of 1.63% and a negative net margin of 4.43%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, analysts anticipate that News Corp will post $0.38 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new position in News Corp during the first quarter valued at about $1,022,000. Point72 Asset Management L.P. increased its position in News Corp by 93.2% in the first quarter. Point72 Asset Management L.P. now owns 1,297,552 shares of the company’s stock valued at $16,868,000 after buying an additional 625,952 shares in the last quarter. RBF Capital LLC purchased a new position in News Corp during the first quarter valued at about $364,000. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in News Corp by 65.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 17,450 shares of the company’s stock valued at $227,000 after buying an additional 6,900 shares in the last quarter. Finally, Credit Suisse AG increased its position in News Corp by 11.2% in the first quarter. Credit Suisse AG now owns 592,123 shares of the company’s stock valued at $7,698,000 after buying an additional 59,729 shares in the last quarter. 95.71% of the stock is owned by institutional investors.
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.
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