News (NASDAQ:NWSA) Reaches New 12-Month High – What’s Next?

News Co. (NASDAQ:NWSA)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $29.13 and last traded at $28.81, with a volume of 57393 shares. The stock had previously closed at $27.85.

Analyst Ratings Changes

Several equities analysts have recently commented on NWSA shares. Loop Capital boosted their price objective on News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on News from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $38.00.

News Stock Up 1.2 %

The company has a fifty day moving average price of $26.63 and a 200-day moving average price of $26.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.33 and a current ratio of 1.43. The firm has a market capitalization of $16.78 billion, a PE ratio of 64.17 and a beta of 1.34.

News (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.51% and a net margin of 2.64%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, analysts expect that News Co. will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of News by 13.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 230,799 shares of the company’s stock worth $6,027,000 after acquiring an additional 27,324 shares during the last quarter. Bessemer Group Inc. increased its stake in News by 3,107.1% in the 1st quarter. Bessemer Group Inc. now owns 59,363 shares of the company’s stock worth $1,555,000 after buying an additional 57,512 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of News by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,078 shares of the company’s stock worth $1,987,000 after acquiring an additional 26,911 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of News by 73.7% during the first quarter. Janney Montgomery Scott LLC now owns 88,809 shares of the company’s stock valued at $2,325,000 after acquiring an additional 37,692 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of News in the first quarter valued at approximately $4,300,000. 66.97% of the stock is owned by hedge funds and other institutional investors.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.