News (NWSA) Raised to Hold at Zacks Investment Research

News (NASDAQ:NWSA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “News Corporation is in a transitionary phase looking to diversify revenue streams through strategic acquisitions and operational enhancement. The company is expanding digital offerings, along with greater emphasis on real estate businesses and augmenting digital subscriber base. Further, it has been concentrating on cost cutting. These endeavors have helped the stock outpace the industry in a year and facilitated to post fifth straight quarter of positive earnings surprise in the second quarter of fiscal 2018. The top line also came ahead of the consensus mark for the second straight quarter and grew year over year. Results gained from sturdy performance at the Digital Real Estate Services and Cable Network Programming segments. However, this diversified media conglomerate remains vulnerable to foreign currency headwinds and soft print advertising demand.”

A number of other brokerages have also commented on NWSA. TheStreet upgraded shares of News from a “c+” rating to a “b-” rating in a report on Tuesday, December 5th. Jefferies Group restated a “buy” rating on shares of News in a report on Friday. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $17.00.

Shares of News (NASDAQ NWSA) traded up $0.12 during trading hours on Monday, hitting $15.77. 3,827,800 shares of the company were exchanged, compared to its average volume of 2,450,396. News has a fifty-two week low of $12.19 and a fifty-two week high of $17.29. The company has a current ratio of 1.64, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9,187.93, a price-to-earnings ratio of -20.48, a price-to-earnings-growth ratio of 3.31 and a beta of 2.01.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. News had a negative net margin of 5.41% and a positive return on equity of 2.52%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. equities analysts predict that News will post 0.48 earnings per share for the current year.

Several large investors have recently modified their holdings of NWSA. State of Tennessee Treasury Department grew its position in News by 242.8% in the fourth quarter. State of Tennessee Treasury Department now owns 546,536 shares of the company’s stock valued at $8,860,000 after purchasing an additional 387,108 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in News in the fourth quarter valued at $1,387,000. American International Group Inc. grew its position in News by 5.4% in the fourth quarter. American International Group Inc. now owns 274,813 shares of the company’s stock valued at $4,455,000 after purchasing an additional 14,158 shares in the last quarter. Virtu Financial LLC bought a new position in News in the fourth quarter valued at $209,000. Finally, BlackRock Inc. grew its position in News by 1.3% in the fourth quarter. BlackRock Inc. now owns 25,568,583 shares of the company’s stock valued at $414,465,000 after purchasing an additional 318,441 shares in the last quarter. Institutional investors and hedge funds own 61.28% of the company’s stock.

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News 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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