News (NASDAQ:NWS) Reaches New 12-Month High – Here’s Why

News Co. (NASDAQ:NWS) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.98 and last traded at $34.75, with a volume of 18001 shares traded. The stock had previously closed at $34.86.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn raised News to a “strong-buy” rating in a report on Friday, January 31st.

News Price Performance

The stock has a market capitalization of $19.90 billion, a P/E ratio of 47.95 and a beta of 1.38. The company has a current ratio of 1.73, a quick ratio of 1.26 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $31.56 and a two-hundred day simple moving average of $29.95.

News (NASDAQ:NWS) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). News had a return on equity of 5.31% and a net margin of 4.22%. Sell-side analysts expect that News Co. will post 0.96 EPS for the current fiscal year.

News Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a dividend yield of 0.6%. News’s dividend payout ratio (DPR) is presently 27.40%.

Institutional Trading of News

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in News by 253.3% during the 3rd quarter. Blue Trust Inc. now owns 2,021 shares of the company’s stock worth $57,000 after purchasing an additional 1,449 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in News by 101.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,624 shares of the company’s stock worth $548,000 after acquiring an additional 9,895 shares during the last quarter. Metropolis Capital Ltd boosted its position in News by 10.5% during the 3rd quarter. Metropolis Capital Ltd now owns 930,950 shares of the company’s stock worth $26,020,000 after acquiring an additional 88,715 shares during the last quarter. International Assets Investment Management LLC boosted its position in News by 3,314.8% during the 3rd quarter. International Assets Investment Management LLC now owns 116,718 shares of the company’s stock worth $3,262,000 after acquiring an additional 113,300 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in News by 41.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,247 shares of the company’s stock worth $230,000 after acquiring an additional 2,405 shares during the last quarter. 14.63% of the stock is 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.