News Corporation (NASDAQ:NWSA) Stock Has Consensus Price Target of $38.50

Shares of News Corporation (NASDAQ:NWSA) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $38.50.

NWSA has been the topic of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price target on shares of News in a research note on Thursday, August 6th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 7th. Wall Street Zen raised News from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 3rd. Weiss Ratings raised News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on News from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, August 21st.

News Trading Up 2.2%

Shares of NASDAQ NWSA opened at $30.22 on Tuesday. The company’s 50 day simple moving average is $29.57 and its 200 day simple moving average is $27.50. News has a fifty-two week low of $22.20 and a fifty-two week high of $31.66. The firm has a market capitalization of $16.35 billion, a P/E ratio of 29.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.62 and a quick ratio of 1.51.

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

News Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 9th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 9th. This represents a yield of 68.0%. News’s dividend payout ratio (DPR) is 19.42%.

Hedge Funds Weigh In On News

Institutional investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of News in the 3rd quarter valued at approximately $25,000. Elevation Wealth Partners LLC grew its holdings in News by 282.7% during the second quarter. Elevation Wealth Partners LLC now owns 2,032 shares of the company’s stock valued at $50,000 after purchasing an additional 1,501 shares during the period. Root Financial Partners LLC grew its holdings in News by 96.2% during the first quarter. Root Financial Partners LLC now owns 2,188 shares of the company’s stock valued at $55,000 after purchasing an additional 1,073 shares during the period. IFP Advisors Inc grew its holdings in News by 79.0% during the second 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 period. Finally, EverSource Wealth Advisors LLC increased its stake in News by 26.5% in the first quarter. EverSource Wealth Advisors LLC now owns 8,299 shares of the company’s stock valued at $207,000 after purchasing an additional 1,739 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors and hedge funds.

News Company Profile

News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.