Jefferies Group LLC Reaffirms “Buy” Rating for News Corporation (NWSA)

Jefferies Group LLC reiterated their buy rating on shares of News Corporation (NASDAQ:NWSA) in a report published on Monday, May 22nd. Jefferies Group LLC currently has a $17.00 target price on the stock.

Several other research firms have also recently commented on NWSA. Morgan Stanley reissued an equal weight rating and set a $15.00 target price on shares of News Corporation in a research note on Monday, March 6th. Guggenheim reaffirmed a neutral rating and issued a $13.00 price objective on shares of News Corporation in a research note on Friday, February 10th. Finally, Zacks Investment Research cut shares of News Corporation from a hold rating to a sell rating in a research note on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $14.75.

Shares of News Corporation (NASDAQ NWSA) traded up 0.88% on Monday, reaching $13.73. 2,200,096 shares of the company were exchanged. News Corporation 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 $13.13 and a 200-day moving average of $12.57. The company’s market capitalization is $7.99 billion.

News Corporation (NASDAQ:NWSA) last released its earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.85 billion. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. News Corporation’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $0.04 EPS. On average, analysts predict that News Corporation will post $0.37 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in News Corporation by 3,067.8% in the first quarter. BlackRock Inc. now owns 25,055,960 shares of the company’s stock worth $325,727,000 after buying an additional 24,265,013 shares in the last quarter. Dodge & Cox purchased a new position in News Corporation during the fourth quarter worth approximately $84,719,000. Norges Bank purchased a new position in News Corporation during the fourth quarter worth approximately $40,214,000. Russell Investments Group Ltd. purchased a new position in News Corporation during the fourth quarter worth approximately $37,365,000. Finally, Thompson Siegel & Walmsley LLC raised its position in News Corporation by 56.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 6,718,344 shares of the company’s stock worth $76,992,000 after buying an additional 2,428,295 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

About News Corporation

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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