News (NASDAQ:NWSA) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

News Corporation (NASDAQ:NWSA)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.85 and traded as high as $29.73. News shares last traded at $29.65, with a volume of 2,519,719 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NWSA. Citigroup cut their target price on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of News in a research report on Thursday, August 6th. Weiss Ratings raised shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded News from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.50.

News Trading Up 2.5%

The stock has a market cap of $16.44 billion, a PE ratio of 29.50 and a beta of 0.88. The company’s 50-day moving average price is $27.39 and its 200 day moving average price is $25.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62.

News (NASDAQ:NWSA) last posted its earnings results on Wednesday, August 5th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.14. News had a return on equity of 7.09% and a net margin of 6.35%.The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that News Corporation will post 1.31 EPS for the current fiscal year.

News Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a $0.10 dividend. This represents a yield of 68.0%. The ex-dividend date is Wednesday, September 9th. News’s payout ratio is 19.42%.

Institutional Investors Weigh In On News

A number of institutional investors have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC purchased a new position in shares of News during the 2nd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of News during the third quarter worth $31,000. Advisory Services Network LLC acquired a new stake in shares of News in the third quarter valued at $35,000. Brown Brothers Harriman & Co. lifted its stake in News by 154.5% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after acquiring an additional 780 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in News by 561.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,732 shares of the company’s stock valued at $45,000 after acquiring an additional 1,470 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Company Profile

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.