News (NASDAQ:NWS) Rating Lowered to “Hold” at Zacks Research
by Teresa Graham · The Cerbat GemNews (NASDAQ:NWS – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.
Separately, Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, News presently has an average rating of “Moderate Buy”.
View Our Latest Stock Analysis on NWS
News Stock Performance
NWS opened at $31.27 on Thursday. The stock has a 50-day moving average of $30.28 and a 200-day moving average of $29.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. News has a 52-week low of $25.49 and a 52-week high of $35.58. The company has a market cap of $17.12 billion, a PE ratio of 15.56 and a beta of 0.88.
News (NASDAQ:NWS – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.12 billion. News had a net margin of 12.92% and a return on equity of 6.12%. As a group, equities research analysts forecast that News will post 1.1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On News
Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in News by 25.8% during the 1st quarter. Royal Bank of Canada now owns 64,630 shares of the company’s stock worth $1,962,000 after acquiring an additional 13,253 shares during the last quarter. AQR Capital Management LLC boosted its position in News by 44.2% in the 1st quarter. AQR Capital Management LLC now owns 26,873 shares of the company’s stock valued at $816,000 after buying an additional 8,241 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in News by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,071 shares of the company’s stock valued at $215,000 after buying an additional 655 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of News by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 307,560 shares of the company’s stock worth $9,341,000 after acquiring an additional 5,285 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of News during the first quarter worth $287,000. Institutional investors and hedge funds own 14.63% of the company’s stock.
About News
News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.
Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.