News Corporation (NASDAQ:NWSA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “News Corporation is in a transitionary phase looking to diversify its revenue streams through strategic acquisitions and operational enhancement. The company is expanding its digital offerings, along with greater emphasis on real estate businesses and augmenting digital subscriber base. Further, it has been concentrating on cost cutting. These endeavors have helped the stock to outpace the industry so far in the year and facilitated to post third straight quarter of positive earnings surprise in the final quarter of fiscal 2017. However, top line fell short of the estimate and declined year over year. News and Information Services, Book Publishing and Cable Network Programming segments hurt the results. Moreover, we note that this diversified media conglomerate continues to grapple with foreign currency headwinds and soft print advertising demand. Estimates have been stable ahead of the company’s first-quarter fiscal 2018 earnings release.”
A number of other research firms also recently commented on NWSA. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research report on Sunday, July 30th. Rosenblatt Securities assumed coverage on shares of News Corporation in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. News Corporation presently has an average rating of “Hold” and an average price target of $15.20.
News Corporation (NASDAQ:NWSA) last posted its earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. On average, equities analysts anticipate that News Corporation will post $0.47 earnings per share for the current year.
Several hedge funds have recently modified their holdings of NWSA. Ameritas Investment Partners Inc. bought a new stake in shares of News Corporation during the 1st quarter valued at $118,000. Pacer Advisors Inc. grew its position in shares of News Corporation by 56.6% during the 1st quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after acquiring an additional 3,853 shares during the period. Creative Planning grew its position in shares of News Corporation by 109.9% during the 2nd quarter. Creative Planning now owns 11,068 shares of the company’s stock valued at $152,000 after acquiring an additional 5,795 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of News Corporation during the 2nd quarter valued at $155,000. Finally, Parametrica Management Ltd bought a new stake in shares of News Corporation during the 2nd quarter valued at $156,000. 60.61% of the stock is owned by hedge funds and other institutional investors.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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