JPMorgan Chase & Co. Lowers News (NASDAQ:NWSA) to Underweight

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News (NASDAQ:NWSA) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Thursday, The Fly reports.

NWSA has been the subject of several other reports. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a report on Monday, April 8th. ValuEngine raised United Overseas Bank from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $14.17.

Shares of NASDAQ:NWSA traded up $0.06 during trading on Thursday, hitting $13.28. 3,231,800 shares of the company traded hands, compared to its average volume of 2,812,471. The company has a market capitalization of $7.95 billion, a PE ratio of 30.18 and a beta of 1.50. The stock has a fifty day simple moving average of $12.73. News has a one year low of $10.65 and a one year high of $15.66. The company has a quick ratio of 1.04, a current ratio of 1.15 and a debt-to-equity ratio of 0.08.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 9th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.51 billion. News had a positive return on equity of 2.59% and a negative net margin of 1.60%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Equities research analysts predict that News will post 0.38 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Moody National Bank Trust Division acquired a new position in shares of News during the first quarter worth approximately $26,000. Advisor Group Inc. boosted its position in shares of News by 83.2% during the fourth quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock worth $38,000 after buying an additional 1,524 shares during the period. Capital Financial Planning LLC acquired a new position in shares of News during the fourth quarter worth approximately $48,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of News during the fourth quarter worth approximately $112,000. Finally, Corient Capital Partners LLC acquired a new position in shares of News during the first quarter worth approximately $157,000. Institutional investors and hedge funds own 63.96% of the company’s stock.

News Company Profile

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

Further Reading: Buy-Side Analysts

The Fly

Analyst Recommendations for News (NASDAQ:NWSA)

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