News Corporation (NWS) Rating Lowered to Sell at BidaskClub

News Corporation (NASDAQ:NWS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, October 7th.

Separately, Citigroup Inc. raised shares of News Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th.

Shares of News Corporation (NASDAQ NWS) opened at 13.90 on Friday. News Corporation has a 52-week low of $11.25 and a 52-week high of $14.90. The company’s 50-day moving average price is $13.65 and its 200-day moving average price is $13.70. The firm’s market capitalization is $8.09 billion.

News Corporation (NASDAQ:NWS) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $2.08 billion for the quarter. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. On average, equities research analysts expect that News Corporation will post $1.39 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its stake in News Corporation by 26.1% during the 2nd quarter. Toronto Dominion Bank now owns 39,104 shares of the company’s stock worth $553,000 after acquiring an additional 8,093 shares during the period. Public Employees Retirement System of Ohio raised its stake in News Corporation by 25.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 53,943 shares of the company’s stock worth $763,000 after acquiring an additional 10,853 shares during the period. Nomura Holdings Inc. raised its stake in News Corporation by 111.7% during the 2nd quarter. Nomura Holdings Inc. now owns 9,100 shares of the company’s stock worth $129,000 after acquiring an additional 4,802 shares during the period. Alpine Global Management LLC bought a new stake in News Corporation during the 2nd quarter worth approximately $294,000. Finally, Cubist Systematic Strategies LLC raised its stake in News Corporation by 12.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 39,334 shares of the company’s stock worth $557,000 after acquiring an additional 4,232 shares during the period. Institutional investors own 9.62% of the company’s stock.

About News Corporation

News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.

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