News (NWSA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of News (NASDAQ:NWSA) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “News Corporation is in a transitionary phase looking to diversify its revenue streams through strategic acquisitions and operational enhancement. The company is expanding its digital offerings, along with greater emphasis on real estate businesses and augmenting digital subscriber base. Further, it has been concentrating on cost cutting. These endeavors have helped the stock to outpace the industry in a year and facilitated to post fourth straight quarter of positive earnings surprise in the first quarter of fiscal 2018. Top line also came ahead of the consensus mark and grew year over year. The quarter marked robust performance at Digital Real Estate Services and Cable Network Programming segments. News and Information Services and Book Publishing divisions also contributed to the results. However, this diversified media conglomerate continues to remain vulnerable to foreign currency headwinds and soft print advertising demand.”

Separately, TheStreet raised News from a c+ rating to a b- rating in a research report on Tuesday, December 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $16.20.

News (NASDAQ NWSA) traded up $0.24 during mid-day trading on Monday, reaching $17.21. The company’s stock had a trading volume of 1,902,000 shares, compared to its average volume of 2,421,818. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.56 and a current ratio of 1.56. News has a twelve month low of $11.88 and a twelve month high of $17.29. The stock has a market capitalization of $9,887.08, a price-to-earnings ratio of -15.23, a price-to-earnings-growth ratio of 3.45 and a beta of 2.06.

News (NASDAQ:NWSA) last released its earnings results on Thursday, November 9th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. News had a positive return on equity of 2.27% and a negative net margin of 7.96%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted ($0.01) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. equities research analysts forecast that News will post 0.49 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of NWSA. State of Tennessee Treasury Department grew its position in shares of News by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 104,530 shares of the company’s stock worth $1,432,000 after buying an additional 368 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of News by 1.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 205,130 shares of the company’s stock worth $2,811,000 after buying an additional 3,043 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of News by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,394 shares of the company’s stock worth $389,000 after buying an additional 81 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of News by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 498,390 shares of the company’s stock worth $6,828,000 after buying an additional 1,583 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its position in shares of News by 0.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 15,319 shares of the company’s stock worth $210,000 after buying an additional 46 shares in the last quarter. 60.89% of the stock is currently owned by institutional investors and hedge funds.

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News Company Profile

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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