News Corporation (NWS) Lowered to “Buy” at BidaskClub
News Corporation (NASDAQ:NWS) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
Separately, Citigroup Inc. raised News Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold”.
Shares of News Corporation (NASDAQ NWS) traded down 1.07% during midday trading on Friday, hitting $13.85. 101,423 shares of the stock traded hands. News Corporation has a 1-year low of $11.25 and a 1-year high of $15.22. The company’s market capitalization is $8.06 billion. The stock has a 50 day moving average of $14.26 and a 200 day moving average of $13.47.
News Corporation (NASDAQ:NWS) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The business had revenue of $2.08 billion for the quarter. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. Equities research analysts predict that News Corporation will post $1.39 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in NWS. Laurion Capital Management LP acquired a new stake in News Corporation during the second quarter valued at $525,000. Matthews International Capital Management LLC acquired a new stake in News Corporation during the second quarter valued at $303,000. Amalgamated Bank acquired a new stake in News Corporation during the second quarter valued at $193,000. TIAA CREF Investment Management LLC raised its stake in News Corporation by 20.0% in the second quarter. TIAA CREF Investment Management LLC now owns 201,408 shares of the company’s stock valued at $2,850,000 after buying an additional 33,626 shares during the period. Finally, Teachers Advisors LLC raised its stake in News Corporation by 27.1% in the second quarter. Teachers Advisors LLC now owns 204,024 shares of the company’s stock valued at $2,887,000 after buying an additional 43,531 shares during the period. 9.95% of the stock is currently owned by institutional investors and hedge funds.
News Corporation Company Profile
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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