Equities research analysts at Rosenblatt Securities began coverage on shares of News Corporation (NASDAQ:NWSA) in a research report issued to clients and investors on Friday, July 14th, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Rosenblatt Securities’ price target indicates a potential upside of 19.38% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Jefferies Group LLC restated a “buy” rating and set a $17.00 price objective on shares of News Corporation in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. News Corporation has an average rating of “Hold” and an average price target of $15.20.
Shares of News Corporation (NWSA) traded down 0.70% during mid-day trading on Friday, hitting $14.24. The company’s stock had a trading volume of 993,535 shares. News Corporation has a 1-year low of $10.99 and a 1-year high of $14.68. The company has a 50-day moving average price of $13.78 and a 200-day moving average price of $13.04. The stock’s market cap is $8.28 billion.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.85 billion. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. Analysts predict that News Corporation will post $0.37 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Comerica Bank increased its stake in News Corporation by 2.7% in the fourth quarter. Comerica Bank now owns 92,340 shares of the company’s stock worth $1,113,000 after buying an additional 2,466 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in News Corporation by 50.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,741,551 shares of the company’s stock worth $42,884,000 after buying an additional 1,254,745 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in News Corporation during the fourth quarter worth $348,000. Norges Bank acquired a new stake in News Corporation during the fourth quarter worth $40,214,000. Finally, Vident Investment Advisory LLC acquired a new stake in News Corporation during the fourth quarter worth $129,000. Institutional investors own 93.93% 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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