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News Corp Inc. (NWS)
world littered with unchecked
news, commentary and opinion that flows like Niagara Falls into our
I think that the average individual is looking for real guidance and
amidst the confusion. At the very least,
consumers want an information source that they trust to be fair,
and one that elucidates the boundaries between fact and fiction. (Of
some will argue may point with NWS)
media” companies like News Corp
are reinventing themselves in our digital age. Zacks saw this change a
back and moved NWS to a number 1 Rank (Buy).
Corp is just about everywhere we
get information and entertainment. The
stock has been reaching new heights over the past several
It may be a stock to watch as it gains
Corporation's diversified global operations include the production and
distribution of motion pictures and television programming; television,
satellite and cable broadcasting such as the Fox, FX and Speed
publication of newspapers, magazines, books including the Wall Street
The New York Post, Dow Jones and more. They have
over 150 news brands alone.
swept the company in August of last year, sending shares lower by over
28% to a
low of around $13.89. Since then the
company has been barreling back, cutting publishing costs and improving
Profile & Earnings Estimates
trading at about 15 times earnings, with a forward p/e projection of
year from now. Last quarter, they reported
2.7 billion in income (33.9 billion in revs) up 7.9% year over
NWS surprised estimates the past two quarters
by 20.69% and 10.34% respectively.
ends in June, with expectations for 20.6% earnings growth in 2012 and
estimates have been steady at 1.39 since October of 2011 and are up .11
the beginning of 2011. NWS is expected to earn 1.66
in 2013. At a 14 multiple (about low-average for the
S&P 500) you have a $23.25 stock. 14
would be a very low multiple for NWS, which has been trading above a 15
the better part of the past 2 years.
that low point in August, NWS has soared 36%.
Even amidst all the mess in the
markets, NWS has been maintaining its upward trend and today broke out
of its technical
resistance and 52 week high of $19.00, a very bullish sign.
the chart, you
can see shares have been rallying since August.
The breakout today may give NWS a
5% boost. Look for the $19.00 level to
become support. Look for $18.00 as your support
level below that. For now, the stock
continues to make higher lows and higher highs, which is indicative of
momentum stock in a bullish pattern.
A Levy is
the Momentum Stock Strategist for Zacks.com. He is also the Editor in
the market-beating Zacks
Whisper Trader Service.