News CorporationNasdaq: NWSA
Communication Services · Publishing
$25.27
-2.75%
Vol: 7.2M
Research Digest
Friday, June 19, 2026
News Corp accelerates $1B share buyback with Goldman Sachs as broker; stock trades near $26 with analysts setting average 12-month price target of $35.18 implying 34% upside.
News Corp reported to the ASX on June 15, 2026 that it is actively executing its $1 billion share repurchase program using Goldman Sachs as broker, having repurchased approximately 8.04 million Class A shares for ~$201.9 million and 3.82 million Class B shares for ~$109 million cumulatively. Earlier in Q1 CY2026, News Corp reported revenue of $2.19 billion, up 8.8% year-on-year, beating consensus. Q3 2026 EPS was $0.21, beating the $0.19 estimate by 10.5%. The stock trades near $25.64-$26.32 with a 52-week range of $22.20-$31.61, and 7 of 7 covering analysts rate it Buy with an average price target of $35.18, suggesting ~34% upside. The company is progressing plans to separate certain Dow Jones energy data assets including OPIS.
Previous Market Intelligence
13 daysJun 18News Corp board approved a new up-to-$1 billion Class A/B share repurchase authorization (broker Goldman Sachs) alongside a planned change of external auditors, twin moves drawing closer investor scrutiny.Mixed▶
On June 17, 2026 News Corp disclosed that its board approved a fresh share repurchase authorization of up to $1 billion covering both its Nasdaq-listed Class A (NWSA) and Class B common stock, with Goldman Sachs & Co. acting as broker for the buybacks. In the same update the company outlined a planned shift in its external auditors, though specifics on the outgoing and incoming firms were not detailed. The combination of a large buyback and an auditor change announced together is what is drawing extra investor attention. The buyback signals management confidence and provides support for the stock amid flat sales growth and structural pressure on legacy print. The risk is that the auditor transition could surface accounting or disclosure questions, and the buyback does not address the secular migration of readers and advertisers away from traditional newspapers. Shares were near $25.98 with a 7-day decline of about 3.7%.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 20News Corp accelerates Class A share buyback under $1B program; Citi trims target to $38.Mixed▶
News Corp launched a daily Nasdaq-focused Class A share buyback on May 15, 2026, under its previously authorized $1 billion repurchase program, with Goldman Sachs acting as broker. The company reported it had spent approximately $245.5 million on repurchases, including $156.9 million in Class A shares on May 13. Q3 FY2026 results showed revenue of $2.2 billion (+9%) with Segment EBITDA up 18% and margin expansion to 15.7%. FYTD buybacks reached $459 million. Citi lowered its price target to $38 from $39 on May 13, while Morgan Stanley and Jarden maintained Buy ratings.
May 19News Corp accelerates $1B buyback to $459M YTD as Citi cuts PT to $38 and Macquarie upgrades to OutperformPositive▶
News Corp disclosed continued daily Nasdaq Class A share repurchases under its $1B authorization, with Goldman Sachs as broker, executing $193M in Q3 buybacks (up from $172M in Q2) for $459M fiscal year-to-date. Q3 FY2026 revenue rose 9% to $2.2B and Segment EBITDA grew 18% with margin expanding to 15.7%. Citi lowered its price target to $38 from $39 (Buy) on May 13, while Macquarie upgraded the stock to Outperform on May 11 and Morgan Stanley reiterated Overweight at $34 on May 10. Management continues to highlight digital subscription growth at WSJ and the planned separation of Dow Jones' OPIS energy data business. Consensus rating sits at Moderate Buy with an average $37.14 PT.
May 18News Corp executes daily Nasdaq Class A share buyback under $1B program, repurchasing 6.34M shares for $156.9M on May 13 as part of broader $245.5M deployed to datePositive▶
News Corp disclosed to the ASX on May 15, 2026 that it is executing buybacks under its existing repurchase authorization permitting up to $1B of Class A and B shares. On May 13, the company repurchased 6,339,031 shares for ~$156.9M, with cumulative buybacks reaching ~$245.5M. Goldman Sachs is acting as broker, and ASX CDIs are excluded. The buyback program follows strong Q3 FY2026 earnings of $2.2B revenue (up 9%) and accelerating margins. Citi recently lowered its price target to $38 from $39, while Macquarie upgraded the shares to Outperform. Technical analysts note a bull flag pattern forming with 9/10 technical quality.
May 15News Corp Q3 FY26 revenue rose 9% to $2.2B with $193M of buybacks executed; Macquarie upgraded to Outperform May 11, Morgan Stanley reiterated Buy May 12.Positive▶
News Corp reported Q3 FY2026 results May 7 with total revenue up ~9% to $2.2 billion and non-GAAP profit of $0.21 per share (5.5% above consensus), driven by double-digit profit growth across Dow Jones, Digital Real Estate Services, and Book Publishing. The company executed $193 million in share repurchases in the quarter, citing belief the stock is "materially undervalued" relative to NAV. CEO Robert Thomson highlighted AI licensing partnerships with Meta and OpenAI and an anticipated $1.5 billion Anthropic settlement. Macquarie upgraded to Outperform May 11; Morgan Stanley reiterated Buy May 12; Citi lowered target to $38 from $39 on May 13. Risk: cyclical and structural pressures across the portfolio.
May 14News Corp posts strong Q1 CY2026 beat with 9% revenue growth and 18% EBITDA growth; Macquarie upgrades to Buy on May 10Positive▶
News Corp reported Q1 CY2026 (fiscal Q3) earnings on May 7, 2026, with EPS of $0.21 beating the $0.16 consensus and revenue of $2.19B beating the $2.11B estimate. Total revenue rose 9% to $2.2B and total segment EBITDA jumped 18% to $343M, expanding margin from 14.4% to 15.7%. Dow Jones, Digital Real Estate Services, and Book Publishing all generated double-digit profit increases. The company executed $193M in share buybacks during the quarter as part of its $1B repurchase authorization, with management calling shares "materially undervalued." Strategic AI content licensing partnerships with Meta, OpenAI, and anticipated Anthropic proceeds were highlighted as future catalysts. On May 10, 2026, Macquarie upgraded News Corp Class B to Buy. Risks: print advertising decline, IP litigation outcomes.
May 13News Corp delivered twelfth straight quarter of profit growth with Q3 revenue up 9% to $2.2B, ramped up buybacks to $193M, and won upgrade from MacquariePositive▶
News Corp reported its Q3 FY2026 results showing the twelfth straight quarter of profitability growth on a continuing operations basis. Total revenue rose 9% to $2.2 billion while total segment EBITDA increased 18% to $343 million, with margin expanding from 14.4% to 15.7%. Dow Jones, Digital Real Estate Services, and Book Publishing each delivered double-digit profit growth and margin expansion. The company repurchased $193 million of shares in Q3 (up from $172 million in Q2), bringing fiscal year-to-date repurchases to $459 million under the $1 billion authorization, with management believing the stock remains materially undervalued. News Corp executed fresh on-market purchases as recently as May 7 at $22.20-$31.40 per share. On May 10, Macquarie upgraded NWS Class B shares to Buy, while UBS reiterated Buy on May 1 and JPMorgan maintained Buy on April 21.
May 12Mitsubishi UFJ AM raised its NWSA stake 14.2% to 823,989 shares, adding 102,259 shares as buyback program continues.Positive▶
Disclosures dated May 10, 2026 show Mitsubishi UFJ Asset Management increased its News Corp Class A position by 14.2% to 823,989 shares (adding 102,259), while QRG Capital Management trimmed its stake. The accumulation comes alongside an active $1B share repurchase program, with FY-to-date buybacks totaling $459M including $193M in Q3, supported by ~$380M Foxtel shareholder loan repayments. Bear case: institutional accumulation is modest and the stock remains range-bound near $24-$26 50-day MA despite 12 straight quarters of profit growth.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NWSNEWS | $28.75 | -2.87% | -3.2% | 22.3x | 0.89 | $15.7B |
| NWSANEWS | $25.27 | -2.75% | -1.9% | 19.6x | 0.89 | $13.8B |
| GOOGLALPHABET | $368.40 | +1.27% | -5.4% | 25.4x | 1.24 | $4.49T |
| GOOGALPHABET | $367.68 | +1.54% | -4.5% | 25.4x | 1.24 | $4.48T |
| METAMETA | $577.99 | +1.83% | -4.6% | 15.9x | 1.23 | $1.47T |
| NFLXNETFLIX | $77.42 | +0.59% | -12.2% | 20.1x | 1.49 | $325.8B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.