Brokerages Set News Corporation (NASDAQ:NWSA) PT at $37.02

News Corporation (NASDAQ:NWSA) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.02.

NWSA has been the subject of several research analyst reports. Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a research report on Thursday. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Wall Street Zen cut shares of News from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley set a $32.40 price objective on shares of News in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of News from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday, November 25th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in News during the 3rd quarter worth approximately $31,000. CYBER HORNET ETFs LLC acquired a new stake in shares of News in the second quarter valued at approximately $30,000. Root Financial Partners LLC bought a new stake in shares of News in the third quarter worth $35,000. Advisory Services Network LLC bought a new stake in shares of News in the third quarter worth $35,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

News Stock Performance

NWSA stock opened at $24.62 on Monday. News has a 1-year low of $22.20 and a 1-year high of $31.61. The company has a current ratio of 1.81, a quick ratio of 1.69 and a debt-to-equity ratio of 0.20. The firm has a market cap of $13.67 billion, a PE ratio of 12.13 and a beta of 0.98. The business’s 50-day moving average price is $25.10 and its two-hundred day moving average price is $26.62.

News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.30 billion. News had a return on equity of 5.94% and a net margin of 13.35%.The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, research analysts forecast that News will post 0.94 earnings per share for the current year.

News Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a dividend yield of 83.0%. News’s dividend payout ratio (DPR) is currently 9.85%.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.