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

News (NASDAQ:NWSA) had its price objective upped by investment analysts at Guggenheim from $36.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 38.65% from the company’s current price.

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

News Price Performance

NWSA stock opened at $28.85 on Tuesday. News has a 1 year low of $20.81 and a 1 year high of $30.03. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.38 and a quick ratio of 1.26. The stock has a market cap of $16.40 billion, a price-to-earnings ratio of 46.53 and a beta of 1.34. The company has a 50 day simple moving average of $26.75 and a 200 day simple moving average of $26.87.

Hedge Funds Weigh In On News

Hedge funds have recently made changes to their positions in the stock. Seelaus Asset Management LLC increased its position in News by 3.8% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,399 shares of the company’s stock valued at $304,000 after purchasing an additional 417 shares during the period. US Bancorp DE raised its stake in News by 2.4% during the first quarter. US Bancorp DE now owns 18,406 shares of the company’s stock worth $482,000 after buying an additional 424 shares during the last quarter. Fifth Third Bancorp lifted its holdings in News by 3.7% in the second quarter. Fifth Third Bancorp now owns 13,802 shares of the company’s stock valued at $381,000 after buying an additional 496 shares during the period. Acadian Asset Management LLC boosted its position in News by 95.1% during the second quarter. Acadian Asset Management LLC now owns 1,038 shares of the company’s stock valued at $28,000 after acquiring an additional 506 shares during the last quarter. Finally, CWM LLC raised its position in shares of News by 7.8% in the 2nd quarter. CWM LLC now owns 7,339 shares of the company’s stock worth $202,000 after acquiring an additional 532 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

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.