Key Stats for News Corp Stock

• Current Price: $32.45
• Target Price (Mid): ~$45
• Street Target: ~$31
• Potential Total Return: ~40%
• Annualized IRR: ~7% / year

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What Happened?

News Corporation (NWS) thinks its own shares are cheap, and it is spending real money to prove it. Alongside fiscal fourth-quarter results on August 5, the company confirmed an ongoing $1 billion repurchase program, capping a year in which it already bought back $643 million in stock, more than four times the prior year’s pace. The results underneath that buyback were the best in the company’s history: record fourth-quarter…