News (NASDAQ:NWSA) Upgraded to Moderate Buy at Raymond James Financial

News (NASDAQ:NWSA) was upgraded by equities research analysts at Raymond James Financial to a “moderate buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other brokerages also recently commented on NWSA. Wall Street Zen upgraded News from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $35.00 target price on shares of News in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, News has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

News Trading Up 2.0%

NASDAQ:NWSA opened at $30.65 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The firm has a market cap of $16.58 billion, a P/E ratio of 29.76 and a beta of 0.97. The firm’s fifty day moving average is $29.67 and its 200-day moving average is $27.61. News has a 52 week low of $22.20 and a 52 week high of $31.66.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of News during the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC increased its stake in shares of News by 282.7% in the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock worth $50,000 after buying an additional 1,501 shares during the period. Root Financial Partners LLC increased its position in shares of News by 96.2% in the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock valued at $55,000 after acquiring an additional 1,073 shares during the period. IFP Advisors Inc raised its position in News by 79.0% during the 2nd quarter. IFP Advisors Inc now owns 3,682 shares of the company’s stock valued at $91,000 after purchasing an additional 1,625 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of News by 26.5% during the first quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock valued at $207,000 after acquiring an additional 1,739 shares in the last quarter. Institutional investors own 66.97% of the company’s stock.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.