News (NASDAQ:NWSA) Cut to “Hold” at StockNews.com

News (NASDAQ:NWSA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

NWSA has been the subject of several other reports. Loop Capital lifted their price target 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. lifted their price target on News from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.00.

News Stock Performance

Shares of NASDAQ:NWSA traded down $0.29 during trading on Monday, hitting $29.23. The stock had a trading volume of 3,535,035 shares, compared to its average volume of 2,641,514. News has a 12-month low of $20.35 and a 12-month high of $30.03. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 47.15 and a beta of 1.34. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $26.67 and a two-hundred day simple moving average of $26.82.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. News had a return on equity of 4.79% and a net margin of 3.49%. News’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.14 earnings per share. On average, equities research analysts expect that News will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of News

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in shares of News in the third quarter valued at approximately $358,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of News by 1,815.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,413,158 shares of the company’s stock worth $37,632,000 after acquiring an additional 1,339,379 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of News in the third quarter worth approximately $562,000. Pathstone Holdings LLC boosted its stake in shares of News by 1.2% in the third quarter. Pathstone Holdings LLC now owns 60,509 shares of the company’s stock worth $1,612,000 after acquiring an additional 730 shares during the last quarter. Finally, LMR Partners LLP boosted its stake in shares of News by 16.5% in the third quarter. LMR Partners LLP now owns 10,375 shares of the company’s stock worth $276,000 after acquiring an additional 1,472 shares during the last quarter. 66.97% of the stock is currently 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.