News Corp Stock Price Up 4.7% After Strong Earnings (NWSA)
Shares of News Corp (NASDAQ:NWSA) rose 4.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings, AnalystRatings.Net reports. The company traded as high as $17.94 and last traded at $17.91, with a volume of 3,116,144 shares. The stock had previously closed at $17.11.
The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.08. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis.
A number of research firms have recently commented on NWSA. Analysts at Credit Suisse upgraded shares of News Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 1st. They now have a $19.20 price target on the stock, up previously from $18.50. Separately, analysts at Zacks reiterated a “neutral” rating on shares of News Corp in a research note on Wednesday, February 19th. They now have a $19.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.90.
The stock’s 50-day moving average is $17.12 and its 200-day moving average is $17.34. The company’s market cap is $10.260 billion.
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.