News (NASDAQ:NWSA) Price Target Raised to $38.00

News (NASDAQ:NWSA) had its target price increased by JPMorgan Chase & Co. from $36.00 to $38.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

NWSA has been the subject of several other research reports. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Citigroup reduced their price objective on News from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $35.00 price target on shares of News in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, News presently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

News Stock Performance

NWSA stock opened at $30.38 on Friday. The company has a market capitalization of $16.44 billion, a PE ratio of 29.50 and a beta of 0.88. News has a 12 month low of $22.20 and a 12 month high of $31.61. The firm’s 50-day moving average is $27.39 and its 200 day moving average is $25.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51.

News (NASDAQ:NWSA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.14. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, research analysts anticipate that News will post 1.31 EPS for the current year.

News Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be given a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend is Wednesday, September 9th. News’s dividend payout ratio is presently 19.42%.

Hedge Funds Weigh In On News

Several institutional investors have recently bought and sold shares of the business. CYBER HORNET ETFs LLC purchased a new stake in News during the second quarter worth $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of News in the 3rd quarter valued at $31,000. Advisory Services Network LLC bought a new position in shares of News in the 3rd quarter worth $35,000. Brown Brothers Harriman & Co. lifted its stake in shares of News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in News by 561.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after purchasing an additional 1,470 shares in the last quarter. 66.97% of the stock is owned by hedge funds and other institutional investors.

News Company Profile

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.