JPMorgan Chase & Co. Issues Positive Forecast for News (NASDAQ:NWSA) Stock Price

News (NASDAQ:NWSA) had its price objective raised by JPMorgan Chase & Co. from $36.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 25.74% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Citigroup lowered their price objective on shares of News from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research downgraded shares of News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of News in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.50.

News Stock Up 1.9%

Shares of NWSA traded up $0.57 during mid-day trading on Friday, reaching $30.22. The company’s stock had a trading volume of 912,054 shares, compared to its average volume of 4,475,743. The business has a fifty day moving average of $27.30 and a 200 day moving average of $25.85. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 29.34 and a beta of 0.88. News has a 1 year low of $22.20 and a 1 year high of $31.61. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.14. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.25 billion. News had a return on equity of 7.09% and a net margin of 6.35%.News’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, analysts forecast that News will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NWSA. Proficio Capital Partners LLC bought a new stake in News during the second quarter worth approximately $274,000. Public Employees Retirement System of Ohio bought a new stake in shares of News during the 2nd quarter worth $975,000. Tema ETFs LLC grew its stake in News by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 26,024 shares of the company’s stock valued at $646,000 after buying an additional 2,465 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in News by 282.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Czech National Bank boosted its holdings in News by 3.0% during the second quarter. Czech National Bank now owns 103,863 shares of the company’s stock valued at $2,579,000 after acquiring an additional 3,034 shares during the period. 66.97% of the stock is owned by institutional investors.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.