News Corp Class A (NWSA) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of News Corp Class A (NASDAQ:NWSA) from a sell rating to a hold rating in a report issued on Friday morning.
According to Zacks, “Shares of News Corporation have declined and underperformed the industry in the past three months. The company remains vulnerable to foreign currency headwinds and soft print advertising demand. Advertising revenue at News and Information Services segment fell 2% during the final quarter of fiscal 2018 on account of sluggishness in the print advertising market and the decision to stop The Wall Street Journal’s international print editions. Nevertheless, the company is concentrating on cost cutting, expanding digital offerings with greater emphasis on real estate services to mitigate the impact of the same. These endeavors have helped the company to post fourth straight quarter of positive earnings and sales surprises. The top line also grew year over year. The performance was driven by solid Foxtel’s results, persistent momentum in the Book Publishing and Digital Real Estate Services segments along with gains from currency tailwinds.”
NWSA has been the topic of several other research reports. Loop Capital upgraded News Corp Class A from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research note on Tuesday, September 4th. ValuEngine upgraded News Corp Class A from a hold rating to a buy rating in a research note on Tuesday, July 10th. UBS Group upgraded News Corp Class A from a sell rating to a neutral rating in a research note on Wednesday, August 29th. Finally, Morgan Stanley lowered News Corp Class A from an equal weight rating to an underweight rating and dropped their price objective for the company from $17.00 to $12.50 in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. News Corp Class A currently has an average rating of Hold and a consensus price target of $15.50.
News Corp Class A (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. News Corp Class A had a positive return on equity of 2.41% and a negative net margin of 16.78%. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. equities research analysts anticipate that News Corp Class A will post 0.44 EPS for the current year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Wednesday, September 12th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 11th. This represents a yield of 1.47%. News Corp Class A’s dividend payout ratio is 45.45%.
Large investors have recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in News Corp Class A by 3,971.7% in the first quarter. Assetmark Inc. now owns 7,492 shares of the company’s stock valued at $118,000 after buying an additional 7,308 shares during the period. Dupont Capital Management Corp raised its stake in News Corp Class A by 74.0% in the second quarter. Dupont Capital Management Corp now owns 7,984 shares of the company’s stock valued at $124,000 after buying an additional 3,396 shares during the period. Greenleaf Trust bought a new stake in News Corp Class A in the second quarter valued at approximately $156,000. Rampart Investment Management Company LLC raised its stake in News Corp Class A by 118.9% in the first quarter. Rampart Investment Management Company LLC now owns 11,225 shares of the company’s stock valued at $177,000 after buying an additional 6,097 shares during the period. Finally, TLP Group LLC raised its stake in News Corp Class A by 21,611.5% in the first quarter. TLP Group LLC now owns 13,244 shares of the company’s stock valued at $209,000 after buying an additional 13,183 shares during the period. Hedge funds and other institutional investors own 60.87% of the company’s stock.
About News Corp Class A
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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