JPMorgan Chase & Co. Raises News (NASDAQ:NWSA) Price Target to $37.00

News (NASDAQ:NWSA) had its price target hoisted by JPMorgan Chase & Co. from $34.00 to $37.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

News Trading Down 0.7 %

News stock opened at $27.40 on Thursday. The stock has a market cap of $15.61 billion, a PE ratio of 76.11 and a beta of 1.33. The company has a current ratio of 1.36, a quick ratio of 1.25 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $27.36 and a 200 day moving average price of $26.24. News has a 52 week low of $19.25 and a 52 week high of $28.62.

News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. News had a net margin of 2.09% and a return on equity of 4.28%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $0.14 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. Equities research analysts predict that News will post 0.67 earnings per share for the current fiscal year.

News Announces Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, September 11th. This represents a yield of 0.7%. News’s payout ratio is currently 55.56%.

Institutional Trading of News

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in News by 17.4% in the second quarter. NewEdge Advisors LLC now owns 74,698 shares of the company’s stock valued at $2,059,000 after purchasing an additional 11,078 shares during the period. Creative Planning grew its stake in shares of News by 51.6% during the 2nd quarter. Creative Planning now owns 46,090 shares of the company’s stock valued at $1,271,000 after buying an additional 15,692 shares during the period. Logan Stone Capital LLC acquired a new stake in shares of News during the 2nd quarter worth $416,000. Mackenzie Financial Corp raised its position in shares of News by 41.8% in the 2nd quarter. Mackenzie Financial Corp now owns 559,087 shares of the company’s stock worth $15,414,000 after buying an additional 164,905 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in News by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,317,664 shares of the company’s stock valued at $36,328,000 after acquiring an additional 5,930 shares during the last quarter. Hedge funds and other institutional investors 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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.