News Corporation (NASDAQ:NWS) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, October 7th.
Separately, Citigroup Inc. upgraded shares of News Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th.
News Corporation (NASDAQ:NWS) opened at 13.95 on Friday. The company has a 50-day moving average price of $13.62 and a 200-day moving average price of $13.69. News Corporation has a one year low of $11.25 and a one year high of $14.90. The company’s market capitalization is $8.12 billion.
News Corporation (NASDAQ:NWS) last posted its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $2.08 billion during the quarter. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. Analysts expect that News Corporation will post $1.39 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LS Investment Advisors LLC grew its stake in News Corporation by 15.3% during the second quarter. LS Investment Advisors LLC now owns 7,601 shares of the company’s stock worth $108,000 after buying an additional 1,010 shares during the period. Nomura Holdings Inc. lifted its position in shares of News Corporation by 111.7% during the second quarter. Nomura Holdings Inc. now owns 9,100 shares of the company’s stock worth $129,000 after purchasing an additional 4,802 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of News Corporation by 0.3% during the second quarter. CIBC Asset Management Inc now owns 10,360 shares of the company’s stock worth $147,000 after purchasing an additional 35 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of News Corporation during the second quarter worth $157,000. Finally, Advisors Asset Management Inc. lifted its position in shares of News Corporation by 3.9% during the second quarter. Advisors Asset Management Inc. now owns 11,210 shares of the company’s stock worth $159,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 9.62% of the company’s stock.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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