News (NASDAQ:NWSA) Rating Lowered to Sell at BidaskClub

News (NASDAQ:NWSA) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, BidAskClub reports.

Shares of News stock traded down $0.63 during midday trading on Wednesday, hitting $8.53. The company had a trading volume of 2,888,917 shares, compared to its average volume of 4,841,991. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.23 and a current ratio of 1.36. The stock has a market capitalization of $5.39 billion, a P/E ratio of -26.66 and a beta of 1.41. The company has a 50 day moving average of $12.00 and a 200 day moving average of $13.31. News has a 52-week low of $7.97 and a 52-week high of $15.07.

News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.52 billion. News had a positive return on equity of 1.97% and a negative net margin of 1.88%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. Equities research analysts forecast that News will post 0.34 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in News by 11.5% in the 4th quarter. Bank of Montreal Can now owns 654,892 shares of the company’s stock valued at $9,260,000 after acquiring an additional 67,539 shares in the last quarter. Mint Tower Capital Management B.V. lifted its holdings in shares of News by 45.6% during the 3rd quarter. Mint Tower Capital Management B.V. now owns 105,329 shares of the company’s stock valued at $1,466,000 after buying an additional 32,963 shares during the period. Hennessy Advisors Inc. bought a new position in shares of News during the 4th quarter valued at $11,306,000. First Trust Advisors LP lifted its holdings in shares of News by 79.0% during the 3rd quarter. First Trust Advisors LP now owns 115,402 shares of the company’s stock valued at $1,606,000 after buying an additional 50,921 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of News by 16.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,457,450 shares of the company’s stock valued at $20,288,000 after buying an additional 207,665 shares during the period. 64.77% 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 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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