News Corp (NASDAQ:NWSA) saw a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 9,008,400 shares, a decline of 18.8% from the May 15th total of 11,089,900 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average trading volume of 3,060,000 shares, the short-interest ratio is presently 2.9 days.
A number of brokerages recently weighed in on NWSA. ValuEngine raised shares of United Overseas Bank from a “sell” rating to a “hold” rating in a report on Monday, June 17th. BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Finally, Zacks Investment Research lowered shares of Wix.Com from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. News presently has an average rating of “Hold” and a consensus target price of $14.17.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moody National Bank Trust Division acquired a new position in shares of News in the 1st quarter valued at $26,000. Advisor Group Inc. grew its holdings in shares of News by 83.2% in the 4th quarter. Advisor Group Inc. now owns 3,355 shares of the company’s stock valued at $38,000 after buying an additional 1,524 shares during the period. Capital Financial Planning LLC acquired a new position in shares of News in the 4th quarter valued at $48,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of News in the 4th quarter valued at $112,000. Finally, Corient Capital Partners LLC acquired a new position in shares of News in the 1st quarter valued at $157,000. 63.89% of the stock is owned by hedge funds and other institutional investors.
NWSA traded up $0.09 during trading on Friday, reaching $13.31. 2,593,200 shares of the company’s stock were exchanged, compared to its average volume of 3,509,784. The firm has a fifty day moving average of $12.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.15 and a quick ratio of 1.04. News has a fifty-two week low of $10.65 and a fifty-two week high of $15.66. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of 30.25 and a beta of 1.50.
News (NASDAQ:NWSA) last released its earnings results on Thursday, May 9th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. News had a negative net margin of 1.60% and a positive return on equity of 2.59%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business earned $0.06 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts forecast that News will post 0.38 earnings per share for the current year.
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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