[Zacks] News Corp (NASDAQ:NWSA)(TREND ANALYSIS) is continuing with its expansion strategy by making significant investment moves. The company, which split from Twenty-First Century Fox, Inc. FOXA and offers e-books for devices sold by Amazon.com Inc. AMZN and Apple Inc. AAPL, has been diversifying its revenue streams and attempting to enhance its digital business globally.
Of late, the company raised its stake in APN News and Media Limited, an Australian media company, to 14.99%. APN’s lucrative portfolio of radio and outdoor media assets, along with printing operations, makes it an attractive opportunity to harness. The company also acquired VCCircle Network, a provider of digital data, business information, training and conferences network for private equity, venture capital and entrepreneurs.
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News Corp (NASDAQ:NWSA) stock is currently trading 20.75% below its 52-week-high, 2.96% above its 52-week-low. The 1-year stock price history is in the range of $14.17 – $18.41. News Corp (NWSA) has a price to earnings ratio of 34.99 versus Services sector average of 19.84. NWSA stock price has underperformed the Nasdaq by 11%. The Newspapers Publishing company is currently valued at $8.51 billion and its share price closed the last trading session at $14.59. The stock has a 50-day moving average of $15.02 and a 200-day moving average of $15.73.
News Corp (NWSA) current short interest stands at 9.89 million shares. It has increased by 5% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 4.33 million shares, the number of days required to cover the short positions stand at 2.3 days.
The company is expected to announce next quarter earnings on August 06, at consensus estimate of $0.06. News Corp (NWSA) reported last quarter earnings on May 05. The Newspapers Publishing company announced earnings per share of $0.05 against a consensus Street estimate of $0.07, missing estimate by $0.02. This corresponds to a decrease of $0.04 compared to the same quarter of the previous fiscal year.
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There are currently fifteen analysts that cover News Corp stock. Of those fifteen, ten have a Buy rating, five have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $18.57.
In term of ownership, company insiders have had a stable overall shares stock over the last six months while institutions have decreased their positions by 4.35%. As a whole, institutions own 96.5% of the total outstanding shares.
News Corporation operates in the publishing industry. The Company provides publications consisting of newspapers, magazines, books and promotional inserts.