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 note issued to investors on Saturday, BidAskClub reports.

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

Shares of NASDAQ NWSA traded down $0.42 during mid-day trading 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 has a market capitalization of $8.05 billion, a P/E ratio of 28.04 and a beta of 1.50. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $13.69 and its 200-day simple moving average is $13.12. News has a twelve month low of $10.65 and a twelve month high of $14.65.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.39 billion. News had a net margin of 1.54% and a return on equity of 2.59%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, equities research analysts expect that News will post 0.41 EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of News by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 52,763,210 shares of the company’s stock valued at $711,775,000 after purchasing an additional 911,875 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in News by 10.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 52,435,946 shares of the company’s stock worth $707,361,000 after acquiring an additional 4,850,224 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in News by 12.5% during the 2nd quarter. Independent Franchise Partners LLP now owns 33,536,394 shares of the company’s stock worth $452,405,000 after acquiring an additional 3,716,104 shares during the last quarter. BlackRock Inc. grew its holdings in News by 6.5% during the 2nd quarter. BlackRock Inc. now owns 27,035,796 shares of the company’s stock worth $364,713,000 after acquiring an additional 1,644,246 shares during the last quarter. Finally, Yacktman Asset Management LP grew its holdings in News by 636.0% during the 3rd quarter. Yacktman Asset Management LP now owns 11,137,008 shares of the company’s stock worth $155,027,000 after acquiring an additional 9,623,733 shares during the last quarter. 62.70% of the stock is currently owned by institutional investors.

About News

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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