News (NASDAQ:NWSA) Hits New 12-Month High at $28.03

Shares of News Co. (NASDAQ:NWSA) hit a new 52-week high during trading on Thursday . The stock traded as high as $28.03 and last traded at $27.95, with a volume of 333866 shares. The stock had previously closed at $27.79.

News Stock Performance

The stock has a market capitalization of $15.88 billion, a P/E ratio of 77.19 and a beta of 1.33. The firm has a 50-day moving average of $26.67 and a 200 day moving average of $25.68. The company has a quick ratio of 1.25, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

News (NASDAQ:NWSA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.45 billion. News had a return on equity of 4.28% and a net margin of 2.09%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 earnings per share. Research analysts anticipate that News Co. will post 0.67 EPS for the current fiscal year.

Institutional Trading of News

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NWSA. Royal London Asset Management Ltd. grew its position in shares of News by 3.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 159,199 shares of the company’s stock worth $3,194,000 after buying an additional 4,983 shares during the period. Deutsche Bank AG grew its position in shares of News by 23.3% during the 3rd quarter. Deutsche Bank AG now owns 917,914 shares of the company’s stock worth $18,413,000 after buying an additional 173,293 shares during the period. Banque Pictet & Cie SA acquired a new position in shares of News during the 3rd quarter worth about $332,000. Anchor Investment Management LLC acquired a new position in shares of News in the 4th quarter valued at approximately $132,000. Finally, DNB Asset Management AS grew its position in shares of News by 0.5% in the 4th quarter. DNB Asset Management AS now owns 131,605 shares of the company’s stock valued at $3,231,000 after purchasing an additional 596 shares during the period. 66.97% of the stock is currently owned by institutional investors and hedge funds.

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 in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.