News (NASDAQ:NWSA) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

News Corporation (NASDAQ:NWSA)’s stock price crossed 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NWSA shares. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Raymond James Financial started coverage on News in a research report on Monday, October 19th. They issued an “outperform” rating and a $35.00 price target on the stock. Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen downgraded News from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Six 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 an average target price of $37.80.

News Price Performance

The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 23.64 and a beta of 1.01. The stock’s fifty day moving average price is $29.66 and its two-hundred day moving average price 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 issued its earnings results on Wednesday, November 4th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.27 billion. News had a net margin of 6.76% and a return on equity of 7.40%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts expect that News Corporation will post 1.30 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its position in shares of News by 41.0% during the second quarter. NewEdge Advisors LLC now owns 216,552 shares of the company’s stock worth $5,377,000 after acquiring an additional 62,999 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in News in the 2nd quarter valued at $2,845,000. Nykredit A S purchased a new stake in News in the 2nd quarter valued at $1,807,000. Sei Investments Co. boosted its stake in News by 120.6% during the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after purchasing an additional 1,272,083 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in News by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company’s stock worth $105,842,000 after purchasing an additional 94,368 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

News Company Profile

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.