Guggenheim Forecasts Strong Price Appreciation for News (NASDAQ:NWSA) Stock

News (NASDAQ:NWSA) had its target price raised by Guggenheim from $36.00 to $40.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 36.10% from the stock’s previous close.

Several other analysts also recently weighed in on NWSA. JPMorgan Chase & Co. lifted their price target on shares of News from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. StockNews.com lowered News from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Loop Capital increased their price target on News from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, News presently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

News Trading Up 0.5 %

Shares of NASDAQ:NWSA traded up $0.16 on Tuesday, hitting $29.39. 902,082 shares of the company’s stock were exchanged, compared to its average volume of 2,633,573. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 47.40 and a beta of 1.34. News has a 12 month low of $20.35 and a 12 month high of $30.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.43 and a quick ratio of 1.33. The business’s 50 day simple moving average is $26.67 and its two-hundred day simple moving average is $26.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Metropolis Capital Ltd grew its holdings in News by 8.9% in the third quarter. Metropolis Capital Ltd now owns 6,779,137 shares of the company’s stock worth $180,528,000 after purchasing an additional 555,789 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of News by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,337,650 shares of the company’s stock worth $115,512,000 after purchasing an additional 53,550 shares in the last quarter. Bank of New York Mellon Corp increased its position in News by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,855,605 shares of the company’s stock valued at $78,729,000 after buying an additional 61,417 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its stake in News by 2.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,120,708 shares of the company’s stock valued at $56,474,000 after buying an additional 58,805 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 66.97% of the company’s stock.

News Company Profile

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.