News (NASDAQ:NWSA) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of News (NASDAQ:NWSA) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

A number of other research firms also recently commented on NWSA. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. Raymond James Financial began coverage on shares of News in a research note on Monday, October 19th. They set an “outperform” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Weiss Ratings cut shares of News from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $35.00 price target on shares of News in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $36.50.

News Trading Down 2.1%

Shares of NWSA stock opened at $26.27 on Wednesday. The stock has a market cap of $14.21 billion, a P/E ratio of 23.46 and a beta of 1.01. News has a 1 year low of $22.20 and a 1 year high of $31.66. The company has a current ratio of 1.62, a quick ratio of 1.50 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $29.23 and a 200 day simple moving average of $26.96.

News (NASDAQ:NWSA) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.27 billion. News had a return on equity of 7.42% and a net margin of 6.76%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. On average, research analysts predict that News will post 1.34 earnings per share for the current fiscal year.

Institutional Trading of News

Several large investors have recently bought and sold shares of the business. Allworth Financial LP grew its position in News by 2.7% in the third quarter. Allworth Financial LP now owns 15,388 shares of the company’s stock valued at $441,000 after acquiring an additional 400 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of News by 3.3% in the second quarter. Empirical Finance LLC now owns 13,861 shares of the company’s stock worth $344,000 after acquiring an additional 442 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of News by 5.0% in the 1st quarter. Compound Planning Inc. now owns 11,184 shares of the company’s stock valued at $279,000 after purchasing an additional 537 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of News by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 72,008 shares of the company’s stock valued at $1,788,000 after purchasing an additional 757 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of News during the 3rd quarter valued at approximately $25,000. 66.97% of the stock is owned by institutional investors and hedge funds.

About News

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.