News (NASDAQ:NWS) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of News (NASDAQ:NWS) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

News Trading Up 3.1%

NASDAQ:NWS opened at $30.17 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. News has a 1-year low of $25.49 and a 1-year high of $35.58. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 15.01 and a beta of 0.88. The business’s 50-day moving average price is $29.91 and its two-hundred day moving average price is $29.03.

News (NASDAQ:NWS) last posted its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.07. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.12 billion. News had a return on equity of 6.12% and a net margin of 12.92%. On average, equities analysts expect that News will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NWS. NewEdge Advisors LLC acquired a new stake in shares of News during the second quarter worth about $30,000. ExodusPoint Capital Management LP acquired a new position in shares of News in the 4th quarter valued at approximately $37,000. Arax Advisory Partners acquired a new position in shares of News in the 4th quarter valued at approximately $47,000. Resona Asset Management Co. Ltd. increased its stake in News by 69.0% during the 4th quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after purchasing an additional 665 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in News by 74.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock worth $62,000 after buying an additional 878 shares during the period. 14.63% of the stock is owned by institutional investors and hedge funds.

About News

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.