News (NASDAQ:NWS) Stock Rating Upgraded by Zacks Research

News (NASDAQ:NWS) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of News in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, News currently has an average rating of “Buy”.

News Stock Performance

Shares of News stock traded up $0.24 during midday trading on Tuesday, hitting $30.93. The company had a trading volume of 236,787 shares, compared to its average volume of 730,169. The company has a fifty day simple moving average of $29.60 and a 200 day simple moving average of $31.70. The stock has a market cap of $17.37 billion, a price-to-earnings ratio of 14.96 and a beta of 0.95. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. News has a 12-month low of $26.25 and a 12-month high of $35.58.

News (NASDAQ:NWS) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. As a group, analysts predict that News will post 1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On News

A number of institutional investors have recently modified their holdings of the stock. NorthRock Partners LLC purchased a new position in News during the second quarter valued at $27,000. NewEdge Advisors LLC purchased a new position in News in the 2nd quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its holdings in News by 97.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,178 shares of the company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Assetmark Inc. increased its stake in News by 572.8% during the 2nd quarter. Assetmark Inc. now owns 1,803 shares of the company’s stock worth $62,000 after buying an additional 1,535 shares in the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in shares of News by 24.9% in the second quarter. Mufg Securities Americas Inc. now owns 2,470 shares of the company’s stock valued at $85,000 after acquiring an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 14.63% of the company’s stock.

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.