News (NASDAQ:NWSA) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

News Corporation (NASDAQ:NWSA)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $26.96 and traded as low as $26.47. News shares last traded at $26.48, with a volume of 9,751,792 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Raymond James Financial initiated coverage on News in a research note on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective for the company. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price target on shares of News in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, August 21st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.80.

News Stock Performance

The company has a market cap of $14.28 billion, a P/E ratio of 23.56 and a beta of 1.01. The company’s fifty day moving average is $29.57 and its 200 day moving average is $26.96. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. News had a net margin of 6.35% and a return on equity of 7.09%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities analysts predict that News Corporation will post 1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On News

Hedge funds and other institutional investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in News during the 3rd quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its stake in News by 282.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after purchasing an additional 1,501 shares during the period. Provenance Wealth Advisors LLC bought a new stake in News in the third quarter valued at approximately $73,000. IFP Advisors Inc lifted its position in News by 79.0% in the second quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of News during the third quarter valued at approximately $142,000. Institutional investors own 66.97% of the company’s stock.

News Company Profile

News Corporation is a global media and information services company. Its businesses include Dow Jones, which provides financial news and data through outlets such as The Wall Street Journal; HarperCollins, a book publisher; and News Corp’s news media operations, which publish newspapers and digital news services.

The company also operates digital real estate businesses, including Realtor.com in the United States and REA Group in Australia. Its brands and services reach audiences and customers across the Americas, Europe, Australia and other international markets.

News Corporation was formed in 2013 when the former News Corporation separated its publishing and media operations from its entertainment businesses.