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

News (NASDAQ:NWSA) had its price objective reduced by Guggenheim from $45.00 to $43.00 in a research report released on Thursday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Zacks Research downgraded News from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Finally, Macquarie reiterated a “neutral” rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, News presently has an average rating of “Moderate Buy” and an average price target of $38.28.

News Stock Performance

News stock traded down $0.12 during midday trading on Thursday, hitting $26.15. 4,198,978 shares of the company were exchanged, compared to its average volume of 3,714,721. News has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The firm has a market capitalization of $14.68 billion, a PE ratio of 12.63 and a beta of 1.15. The business has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $28.47. 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 (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.18 by $0.04. News had a return on equity of 5.68% and a net margin of 13.80%.The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s quarterly revenue was down 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that News will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On News

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its position in shares of News by 37.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 33,385 shares of the company’s stock worth $909,000 after purchasing an additional 9,091 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of News by 13.2% in the 1st quarter. Cerity Partners LLC now owns 82,586 shares of the company’s stock valued at $2,248,000 after acquiring an additional 9,648 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of News by 9.7% during the 1st quarter. New York State Common Retirement Fund now owns 245,195 shares of the company’s stock worth $6,674,000 after acquiring an additional 21,675 shares in the last quarter. CWM LLC boosted its holdings in News by 161.2% in the first quarter. CWM LLC now owns 25,054 shares of the company’s stock valued at $682,000 after purchasing an additional 15,462 shares in the last quarter. Finally, Signaturefd LLC increased its stake in News by 3.5% in the first quarter. Signaturefd LLC now owns 11,833 shares of the company’s stock valued at $322,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors 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.