News Corporation (NASDAQ:NWSA) Stock Has Average Price Target of $37.80 According to Analysts

Shares of News Corporation (NASDAQ:NWSA) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $37.80.

Several research firms recently issued reports on NWSA. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of News from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Morgan Stanley reissued an “overweight” rating and set a $35.00 target price on shares of News in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st.

News Trading Up 0.7%

NASDAQ NWSA opened at $26.57 on Friday. The company has a market capitalization of $14.38 billion, a price-to-earnings ratio of 23.72 and a beta of 1.01. 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 has a 12 month low of $22.20 and a 12 month high of $31.66. The company’s fifty day moving average price is $29.48 and its two-hundred day moving average price is $26.96.

News (NASDAQ:NWSA) last posted its quarterly 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 business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.27 billion. News had a return on equity of 7.40% and a net margin of 6.76%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. As a group, research analysts predict that News will post 1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On News

Several institutional investors have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. bought a new position in News during the 3rd quarter worth $79,840,000. Bank of America Corp DE boosted its holdings in shares of News by 80.9% during the first quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock valued at $101,441,000 after acquiring an additional 1,819,652 shares during the period. Sei Investments Co. grew its position in shares of News by 120.6% during the first quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after acquiring an additional 1,272,083 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of News by 174.3% during the first quarter. Quantinno Capital Management LP now owns 1,911,329 shares of the company’s stock worth $47,649,000 after acquiring an additional 1,214,648 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of News by 331.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 730,471 shares of the company’s stock worth $18,138,000 after acquiring an additional 561,005 shares during the period. 66.97% of the stock is owned by institutional investors.

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.

News Corporation was formed in 2013 when the former News Corporation separated its publishing and media operations from its entertainment businesses.