News Corp Class A (NWSA) Upgraded by Loop Capital to Buy

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News Corp Class A (NASDAQ:NWSA) was upgraded by Loop Capital from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports. The firm currently has a $17.00 target price on the stock. Loop Capital’s target price indicates a potential upside of 31.99% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. UBS Group raised shares of News Corp Class A from a “sell” rating to a “neutral” rating in a report on Wednesday, August 29th. Zacks Investment Research raised shares of News Corp Class A from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Morgan Stanley lowered shares of News Corp Class A from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $17.00 to $12.50 in a report on Monday, August 20th. Finally, ValuEngine lowered shares of News Corp Class A from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. News Corp Class A presently has an average rating of “Hold” and an average target price of $15.50.

Shares of News Corp Class A stock opened at $12.88 on Tuesday. The firm has a market capitalization of $7.62 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 4.29 and a beta of 1.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.22 and a current ratio of 1.33. News Corp Class A has a 52-week low of $12.77 and a 52-week high of $17.29.

News Corp Class A (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The firm had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.36 billion. News Corp Class A had a negative net margin of 16.78% and a positive return on equity of 2.41%. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. analysts expect that News Corp Class A will post 0.44 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of News Corp Class A by 1.4% in the 1st quarter. BlackRock Inc. now owns 25,930,670 shares of the company’s stock worth $409,707,000 after purchasing an additional 362,087 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of News Corp Class A by 1.3% in the 2nd quarter. Pzena Investment Management LLC now owns 22,271,937 shares of the company’s stock worth $345,215,000 after purchasing an additional 280,602 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of News Corp Class A by 15.8% in the 1st quarter. Independent Franchise Partners LLP now owns 7,567,007 shares of the company’s stock worth $119,558,000 after purchasing an additional 1,029,953 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of News Corp Class A by 22.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,328,933 shares of the company’s stock worth $52,597,000 after purchasing an additional 616,957 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of News Corp Class A by 3.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,784,655 shares of the company’s stock worth $43,986,000 after purchasing an additional 101,728 shares during the last quarter. 60.87% of the stock is currently owned by institutional investors and hedge funds.

About News Corp Class A

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

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