News (NASDAQ:NWS) Reaches New 52-Week High – Time to Buy?

News Co. (NASDAQ:NWS)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $29.66 and last traded at $29.62, with a volume of 51118 shares changing hands. The stock had previously closed at $29.29.

Wall Street Analyst Weigh In

Separately, Loop Capital raised News to a “strong-buy” rating in a research note on Tuesday, September 10th.

News Stock Up 1.6 %

The firm’s fifty day simple moving average is $27.98 and its two-hundred day simple moving average is $27.68. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 64.39 and a beta of 1.36.

News (NASDAQ:NWS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.17 earnings per share for the quarter. News had a return on equity of 4.51% and a net margin of 2.64%. The company had revenue of $2.58 billion during the quarter.

News Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th were issued a $0.10 dividend. The ex-dividend date was Wednesday, September 11th. This represents a yield of 0.7%. News’s dividend payout ratio (DPR) is currently 43.48%.

Hedge Funds Weigh In On News

A number of hedge funds have recently made changes to their positions in NWS. Redwood Investment Management LLC purchased a new position in shares of News in the first quarter valued at approximately $636,000. QRG Capital Management Inc. boosted its holdings in News by 183.8% in the first quarter. QRG Capital Management Inc. now owns 34,579 shares of the company’s stock valued at $936,000 after purchasing an additional 22,394 shares during the period. Edgestream Partners L.P. grew its stake in News by 156.1% during the 1st quarter. Edgestream Partners L.P. now owns 156,547 shares of the company’s stock worth $4,236,000 after purchasing an additional 95,429 shares in the last quarter. SG Americas Securities LLC increased its holdings in News by 172.2% during the 2nd quarter. SG Americas Securities LLC now owns 118,499 shares of the company’s stock worth $3,364,000 after purchasing an additional 74,968 shares during the period. Finally, Natixis acquired a new stake in News in the 1st quarter valued at about $554,000. Hedge funds and other institutional investors own 14.63% of the company’s stock.

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.