News (NASDAQ:NWSA) Price Target Lowered to $43.00 at Guggenheim

News (NASDAQ:NWSA) had its price target decreased by analysts at Guggenheim from $45.00 to $43.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 62.29% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of News from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Macquarie reiterated a “neutral” rating and issued a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Finally, Zacks Research lowered News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, News currently has an average rating of “Moderate Buy” and a consensus target price of $38.28.

News Price Performance

Shares of NASDAQ:NWSA traded down $0.33 on Thursday, hitting $26.50. The stock had a trading volume of 1,047,947 shares, compared to its average volume of 3,502,486. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 12.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. News has a twelve month low of $23.38 and a twelve month high of $31.61. The firm’s 50 day moving average price is $27.93 and its 200-day moving average price is $28.49.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, November 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 5.68% and a net margin of 13.80%.The business’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, equities research analysts predict that News will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On News

Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. acquired a new stake in News in the 2nd quarter valued at $30,000. CYBER HORNET ETFs LLC bought a new position in News in the 2nd quarter valued at $30,000. Root Financial Partners LLC purchased a new position in News in the third quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd grew its holdings in News by 12,084.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company’s stock valued at $43,000 after purchasing an additional 1,571 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in News by 120.0% during the third quarter. Rothschild Investment LLC now owns 1,749 shares of the company’s stock valued at $54,000 after purchasing an additional 954 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company’s stock.

News Company Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.