News Corporation (NWSA) Receives Consensus Recommendation of “Hold” from Brokerages
News Corporation (NASDAQ:NWSA) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.20.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research cut News Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Rosenblatt Securities assumed coverage on News Corporation in a report on Friday. They issued a “buy” rating and a $17.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of News Corporation in a report on Monday, May 22nd.
Shares of News Corporation (NWSA) traded down 0.37% during midday trading on Tuesday, reaching $13.63. The company had a trading volume of 1,105,934 shares. The stock has a 50-day moving average of $13.36 and a 200 day moving average of $12.69. The firm’s market capitalization is $7.93 billion. News Corporation has a 52 week low of $10.99 and a 52 week high of $14.68.
News Corporation (NASDAQ:NWSA) last issued its earnings results on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $0.04 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that News Corporation will post $0.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in News Corporation during the first quarter valued at approximately $118,000. Mn Services Vermogensbeheer B.V. raised its position in News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares in the last quarter. Pacer Advisors Inc. raised its position in News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new position in News Corporation during the first quarter valued at approximately $143,000. Finally, Creative Planning raised its position in News Corporation by 109.9% in the second quarter. Creative Planning now owns 11,068 shares of the company’s stock valued at $152,000 after buying an additional 5,795 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.
News Corporation 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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