News (NASDAQ:NWSA) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of News (NASDAQ:NWSA) from a sell rating to a strong sell rating in a research report report published on Saturday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. Credit Suisse Group raised shares of News from a neutral rating to an outperform rating and increased their price objective for the stock from $13.70 to $15.30 in a research report on Sunday, August 11th. JPMorgan Chase & Co. downgraded shares of News from a neutral rating to an underweight rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $14.15.

Shares of NWSA stock traded down $0.42 during trading hours on Friday, reaching $12.90. 6,777,400 shares of the company were exchanged, compared to its average volume of 2,713,078. The stock’s fifty day moving average is $13.69 and its two-hundred day moving average is $13.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 28.04 and a beta of 1.50. News has a fifty-two week low of $10.65 and a fifty-two week high of $14.65.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. News had a net margin of 1.54% and a return on equity of 2.59%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue was down 7.3% compared to the same quarter last year. On average, research analysts anticipate that News will post 0.41 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Yacktman Asset Management LP grew its position in News by 636.0% in the third quarter. Yacktman Asset Management LP now owns 11,137,008 shares of the company’s stock valued at $155,027,000 after purchasing an additional 9,623,733 shares in the last quarter. First Trust Advisors LP grew its position in News by 79.0% in the third quarter. First Trust Advisors LP now owns 115,402 shares of the company’s stock valued at $1,606,000 after purchasing an additional 50,921 shares in the last quarter. Daiwa Securities Group Inc. grew its position in News by 10.8% in the third quarter. Daiwa Securities Group Inc. now owns 15,400 shares of the company’s stock valued at $214,000 after purchasing an additional 1,500 shares in the last quarter. Mackay Shields LLC grew its position in News by 557.7% in the third quarter. Mackay Shields LLC now owns 746,823 shares of the company’s stock valued at $10,395,000 after purchasing an additional 633,279 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its position in News by 34.5% in the third quarter. IFM Investors Pty Ltd now owns 35,892 shares of the company’s stock valued at $500,000 after purchasing an additional 9,206 shares in the last quarter. 62.70% of the stock is owned by institutional investors.

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.

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