News (NASDAQ:NWSA) Given New $43.00 Price Target at Guggenheim

News (NASDAQ:NWSA) had its target price reduced by stock analysts at Guggenheim from $45.00 to $43.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 62.29% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of News from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Macquarie reissued a “neutral” rating and set a $32.70 price objective on shares of News in a research note on Wednesday, August 6th. Zacks Research downgraded News from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of News in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, News presently has a consensus rating of “Moderate Buy” and an average target price of $38.28.

News Price Performance

Shares of NASDAQ NWSA traded down $0.33 during trading hours on Thursday, reaching $26.50. 1,047,947 shares of the stock traded hands, compared to its average volume of 3,502,486. 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 company has a market capitalization of $14.97 billion, a P/E ratio of 12.79 and a beta of 1.15. The company’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $28.49. News has a 52-week low of $23.38 and a 52-week high of $31.61.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of News by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 52,171,790 shares of the company’s stock worth $1,550,546,000 after purchasing an additional 407,293 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of News by 7.3% in the second quarter. Independent Franchise Partners LLP now owns 29,170,531 shares of the company’s stock worth $866,948,000 after buying an additional 1,980,941 shares during the period. Barclays PLC lifted its position in shares of News by 39.5% during the 3rd quarter. Barclays PLC now owns 14,875,615 shares of the company’s stock valued at $456,830,000 after buying an additional 4,214,562 shares in the last quarter. Dodge & Cox grew its stake in shares of News by 18.7% during the 1st quarter. Dodge & Cox now owns 13,846,298 shares of the company’s stock valued at $376,896,000 after acquiring an additional 2,183,613 shares during the period. Finally, 59 North Capital Management LP boosted its position in shares of News by 13.5% in the second quarter. 59 North Capital Management LP now owns 12,650,867 shares of the company’s stock worth $375,984,000 after purchasing an additional 1,503,213 shares during the period. 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.