J.P. Morgan analyst David Karnovsky maintained a Buy rating on News Corp (NWSA – Research Report) yesterday and set a price target of $28.00. The company’s shares closed yesterday at $20.59.
Karnovsky covers the Consumer Cyclical sector, focusing on stocks such as Cinemark Holdings, IMAX, and Live Nation Entertainment. According to TipRanks, Karnovsky has an average return of 10.4% and a 62.37% success rate on recommended stocks.
News Corp has an analyst consensus of Strong Buy, with a price target consensus of $27.88, which is a 35.41% upside from current levels. In a report released on August 15, Morgan Stanley also maintained a Buy rating on the stock with a $27.50 price target.
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The company has a one-year high of $21.65 and a one-year low of $14.77. Currently, News Corp has an average volume of 2.32M.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NWSA in relation to earlier this year.
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News Corp. engages in the creation and distribution of media, news, education, and information services. It operates through the following segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The News and Information Services segment consists of Dow Jones, News Corp Australia, News UK, the New York Post, and News America Marketing. The Book Publishing segment consists of HarperCollins which publishes and supply consumer books through print, digital, and audio formats. The Digital Real Estate Services segment offers property and property-related advertising and services as well as financial services. The Subscription Video Services segment provides video sports, entertainment, and news services to pay-TV subscribers, and other commercial licensees via cable, satellite and Internet Protocol, and distribution. The Other segment refers to general corporate overhead expenses, corporate strategy group, and costs related to the U.K. Newspaper Matters. The company was founded in 1979 and is headquartered in New York, NY.
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