News Corp stock hit an all-time high Wednesday as the Wall Street Journal and Investor's Business Daily parent continues to put up hefty profit growth numbers. News Corp is slated to report earnings next week.
The Relative Strength (RS) Rating for News Corp stock shot up 12 points to 73 Wednesday, according to MarketSurge data. The upgraded 73 Relative Strength Rating shows News Corp topped 73% of all stocks in IBD's database for price performance this past year.
News Corp Forms Back-To-Back Patterns
News Corp stock formed a cup-with-handle base from early February to early July. That set it up for a flat base, which can often yield a powerful breakout. On Wednesday, News Corp stock topped the flat base's 29.59 buy point and rose to an all-time intraday high at 29.61, according to MarketSurge.
Over the last four quarters News Corp recorded earnings gains ranging from 86% down to 21%. Revenue growth for the news organization has been milder. During that period it reported sales growth of 1%, 3% and a 1% dip before climbing to a 6% year-over-year gain last quarter, to $2.58 billion.
Can You Really Time The Stock Market?
Among its other key ratings News Corp has a respectable 84 Composite Rating. That puts it in the top 16% of stocks overall. It also owns a terrific 93 EPS Rating out of 99, reflecting its strong recent and long-term profit growth.
One red flag is its D Accumulation/Distribution Rating, which shows that big funds are selling more of its shares than buying. However, the number of funds holding News Corp stock bullishly rose from 663 last December to 688 in the June-ended quarter before easing a bit to 679 in September.
Earnings Due Next Week
News Corp says on its website it will report fiscal first quarter 2025 earnings on Nov. 7 after the market closes.
New York-based News Corp ranks Nos. 3 and 4 (A and B class stocks) among its peers in the seven-stock Media-Newspapers industry group. Daily Journal is the top-ranked stock in the group.
IBD's unique Relative Strength Rating tracks price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database. Market research shows that the top-performing stocks tend to have an RS Rating over 80 in the early stages of their moves. See if News Corp can continue to climb and hit that benchmark.
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