The S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. In afternoon trade, the benchmark index is down slightly to 8,516.4 points.

Four ASX shares that are falling more than most on Friday are listed below. Here's why they are ending the week in the red:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down almost 5% to $1.37. This appears to have been caused by weakness in the energy sector and a bearish broker note out of Citi. In respect to the latter, the broker has reaffirmed its sell rating and cut its price target to $1.15 (from $1.30). This implies potential downside of 16% from where its shares currently trade. Looking at its balance sheet, Citi suspects that Beach Energy will need to raise funds if it wants to grow through M&A.

McMillan Shakespeare Ltd (ASX: MMS)

The McMillan Shakespeare share price is down almost 9% to $14.09. Investors have been selling this salary packaging company's shares after it was downgraded by analysts at Bell Potter. According to the note, the broker has downgraded McMillan Shakespeare's shares to a neutral rating (from buy) and slashed the price target on them to $15.80 (from $21.00). It said: "Downgrade from Buy to Hold. MMS is cycling a difficult comp with fading support from carry over revenue. We see emerging risks to the downside, predicated on 1) negative volume momentum, segment exposure and a reversion in EV sales back to long-term trend (FY23/24 presented material growth); and 2) margin disappointment. Balancing this is the multiple de-rating and uplift in BEV and PHEV sales."

News Corporation (ASX: NWS)

The News Corporation share price is down 3.5% to $54.29. This may have been driven by profit taking from investors after some strong gains this week and over the last 12 months. In respect to the latter, the media giant's shares are still up almost 40% since this time last year despite today's pullback. A strong result on Thursday helped driven News Corp's shares to a record high.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down almost 4% to $2.24. This is despite there being no news out of the lithium miner today. However, it is worth noting that a number of ASX lithium stocks are under pressure on Friday. Pilbara Minerals' shares are now down almost 40% since this time last year.