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News Corporation Class A
NWSA.OISIN: US65248E1047SEDOL: B03DQ41 |
Rating: SELL |
Target Price: 6.31 USD |
Investment Horizon: 6 to 12 months |
3Q 09 News Alert
News Corporation (News Corp) reported a significant y-o-y decline in revenues in 3Q 09, reflecting poor performances from the Filmed Entertainment, Television, Direct Broadcast Satellite Television, Newspapers, Book Publishing and Other segments. Revenues fell primarily due to lower advertising budgets and a weak retail market. Operating level performance was negatively impacted as the cascading impact from top-line deterioration was exacerbated by a higher…
Company News Alert
The News Corporation (NWS) Class A common stock has appreciated significantly since our 2Q 09 update report, outperforming the appreciation seen in the broader NASDAQ index. We continue to expect weak global advertising spend, which will hamper the company’s growth prospects in terms of revenues and profitability over the medium term. At current levels we downgrade our rating from a HOLD to a SELL. We will reassess our target price and rating…
2Q 09 Update Report
We expect the downward trend in advertising revenues to continue over the near-to-medium term, with weak advertising partners in the auto, financial services and other sectors. In addition, weaker home entertainment retail sales and the lower number of new releases expected will pressure revenue growth in the Filmed entertainment segment. We also expect lower classifieds revenues from Australia and the UK to continue to impact the Newspaper segment…
2Q 09 News Alert
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News Corporation (News Corp) reported a significant y-o-y decline in revenues in 2Q 09, reflecting poor performances from the Filmed Entertainment, Television, Direct Broadcast Satellite Television and Book Publishing segments. Operating and net level performances were weak as the cascading impact from the top-line was exacerbated by higher operating costs and impairment…
Company News Alert
CLICK VIEW REPORT TO READ FREE REPORT
The News Corporation (NWS) Class A common stock has experienced a significant decline in price since our last update report, reflecting weak investor sentiments and a slump in broader indices led by prevailing global economic concerns. Although at current levels our target price does not support a HOLD rating,, taking into account the current uncertain…
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