News (NASDAQ:NWSA) Shares Gap Up to $23.12

News Co. (NASDAQ:NWSA)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $23.12, but opened at $23.81. News shares last traded at $23.68, with a volume of 59,701 shares changing hands.

NWSA has been the subject of a number of recent analyst reports. UBS Group upgraded shares of News from a “neutral” rating to a “buy” rating and set a $24.82 price target for the company in a report on Monday, July 26th. Zacks Investment Research lowered shares of News from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Friday, July 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $27.16.

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.38. The stock’s 50-day simple moving average is $23.29 and its 200-day simple moving average is $25.18. The firm has a market capitalization of $14.07 billion, a PE ratio of 41.29 and a beta of 1.52.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.17 billion. News had a net margin of 3.53% and a return on equity of 4.44%. As a group, analysts predict that News Co. will post 0.57 earnings per share for the current fiscal year.

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 13th. Stockholders of record on Wednesday, September 15th will be given a $0.10 dividend. This represents a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 14th. News’s dividend payout ratio is presently 29.85%.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of News by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 51,684,432 shares of the company’s stock worth $1,331,908,000 after buying an additional 180,658 shares during the period. BlackRock Inc. grew its holdings in shares of News by 20.6% during the second quarter. BlackRock Inc. now owns 33,321,423 shares of the company’s stock valued at $858,690,000 after buying an additional 5,688,638 shares during the last quarter. State Street Corp grew its holdings in shares of News by 3.8% during the second quarter. State Street Corp now owns 18,292,042 shares of the company’s stock valued at $471,386,000 after buying an additional 665,970 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of News by 4.7% during the second quarter. Geode Capital Management LLC now owns 7,959,400 shares of the company’s stock valued at $204,623,000 after buying an additional 360,334 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of News by 21.8% during the second quarter. Goldman Sachs Group Inc. now owns 7,124,027 shares of the company’s stock valued at $183,586,000 after buying an additional 1,274,301 shares during the last quarter. 64.20% of the stock is currently owned by hedge funds and other institutional investors.

News Company Profile (NASDAQ:NWSA)

News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing.

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