News (NASDAQ:NWS) Hits New 52-Week High – Here’s Why

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

Analyst Ratings Changes

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

News Price Performance

The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 0.32. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 64.39 and a beta of 1.36. The stock’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $27.68.

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

News Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 9th. Shareholders 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 payout ratio is 43.48%.

Hedge Funds Weigh In On News

Institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. raised its position in News by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 43,636 shares of the company’s stock worth $1,220,000 after acquiring an additional 641 shares during the period. Atria Investments Inc raised its position in shares of News by 27.7% during the 3rd quarter. Atria Investments Inc now owns 18,818 shares of the company’s stock worth $526,000 after purchasing an additional 4,078 shares during the last quarter. XY Capital Ltd boosted its holdings in News by 579.0% in the 3rd quarter. XY Capital Ltd now owns 59,764 shares of the company’s stock worth $1,670,000 after buying an additional 50,962 shares during the last quarter. Principal Financial Group Inc. increased its stake in News by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 137,034 shares of the company’s stock worth $3,830,000 after buying an additional 2,609 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of News by 6.1% during the third quarter. Pinnacle Associates Ltd. now owns 129,825 shares of the company’s stock valued at $3,339,000 after acquiring an additional 7,449 shares during the last quarter. 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.