JPMorgan Chase & Co. Has Lowered Expectations for News (NASDAQ:NWSA) Stock Price

News (NASDAQ:NWSA) had its price objective cut by research analysts at JPMorgan Chase & Co. from $40.00 to $38.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 48.55% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of News from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Guggenheim decreased their price target on News from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. Finally, Macquarie reiterated a “neutral” rating and set a $32.70 target price on shares of News in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, News presently has an average rating of “Moderate Buy” and a consensus price target of $37.95.

News Stock Up 0.7%

Shares of NWSA opened at $25.58 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $27.11 and a 200 day moving average of $28.34. The company has a market cap of $14.36 billion, a PE ratio of 12.36 and a beta of 1.15. News has a 52-week low of $23.38 and a 52-week high of $31.61.

News (NASDAQ:NWSA) last announced its earnings results on Thursday, November 6th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.11 billion. News had a net margin of 13.80% and a return on equity of 5.68%. The business’s revenue for the quarter was down 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. On average, sell-side analysts expect that News will post 0.94 EPS for the current year.

Hedge Funds Weigh In On News

Several institutional investors have recently made changes to their positions in NWSA. Vanguard Group Inc. lifted its stake in News by 0.8% in the second quarter. Vanguard Group Inc. now owns 52,171,790 shares of the company’s stock worth $1,550,546,000 after acquiring an additional 407,293 shares during the period. State Street Corp raised its holdings in shares of News by 16.5% in the 3rd quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after purchasing an additional 4,448,929 shares in the last quarter. Independent Franchise Partners LLP lifted its position in shares of News by 7.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock worth $866,948,000 after purchasing an additional 1,980,941 shares during the period. Barclays PLC boosted its stake in shares of News by 39.5% during the third quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after purchasing an additional 4,214,562 shares in the last quarter. Finally, 59 North Capital Management LP raised its stake in News by 10.7% in the third quarter. 59 North Capital Management LP now owns 14,009,242 shares of the company’s stock worth $430,224,000 after buying an additional 1,358,375 shares in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.