4 Stocks Hitting 52-Week Highs: NWSA, CAT, LMT, V
Each of the stocks is rated buy at TheStreet Ratings.
"We are reducing our News Corp. (NWS-$19.83; NWSA-$19.03 - Buy -Target $24) estimates to reflect timing issues that shift NBA-related production and affiliate fee expenses into 2H12, and Ice Age sequel-related P&A into 4Q12 while the revenue will flow in 2013," Miller Tabak analysts wrote in a Feb. 15 report. "Also, we expect more Publishing headwinds from the in-store integrated marketing business and from challenging ad markets in the UK and Australia."
Shares of News Corp hit a 52-week high Friday of $19.84. The stock's 52-week low of $13.38 was set on Aug. 9.
News Corp has an estimated price-to-earnings ratio for next year of 11.64; the average for broadcast and entertainment companies is 17.68. For comparison, Walt Disney(DIS) and Time Warner Cable(TWC) both have higher forward P/Es of 12.18 and 11.77, respectively.
Nineteen of the 27 analysts who cover News Corp rated it a buy. Eight analysts gave it a hold rating.