News (NASDAQ:NWSA) Given New $38.00 Price Target at JPMorgan Chase & Co.

News (NASDAQ:NWSA) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $40.00 to $38.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 49.87% from the company’s current price.

NWSA has been the topic of a number of other reports. Macquarie reissued a “neutral” rating and issued a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Guggenheim cut their price objective on News from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Zacks Research cut News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, News has an average rating of “Moderate Buy” and an average price target of $37.95.

News Trading Up 0.5%

Shares of NASDAQ:NWSA traded up $0.13 during mid-day trading on Tuesday, reaching $25.36. 639,255 shares of the company were exchanged, compared to its average volume of 3,540,983. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 12.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.76 and a quick ratio of 1.63. The firm’s 50-day simple moving average is $27.29 and its 200 day simple moving average is $28.38. News has a 1 year low of $23.38 and a 1 year high of $31.61.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 16.8% on a year-over-year basis. Equities research analysts forecast that News will post 0.94 EPS for the current year.

Institutional Investors Weigh In On News

A number of institutional investors have recently modified their holdings of NWSA. AQR Capital Management LLC increased its stake in News by 488.0% during the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock valued at $241,054,000 after purchasing an additional 6,742,836 shares during the last quarter. Norges Bank bought a new stake in shares of News during the 2nd quarter valued at about $195,910,000. State Street Corp boosted its stake in News by 16.5% in the third quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after acquiring an additional 4,448,929 shares during the period. Barclays PLC boosted its position in News by 39.5% during the 3rd quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after purchasing an additional 4,214,562 shares during the period. Finally, Nuveen LLC bought a new position in News during the 1st quarter worth $85,213,000. Institutional investors and hedge funds own 66.97% of the company’s stock.

About News

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.