Equities Analysts Offer Predictions for News Corp.’s Q3 2017 Earnings (NWSA)
News Corp. (NASDAQ:NWSA) – Research analysts at Jefferies Group increased their Q3 2017 EPS estimates for shares of News Corp. in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will earn $0.03 per share for the quarter, up from their previous estimate of $0.02.
Several other research firms have also weighed in on NWSA. Zacks Investment Research lowered News Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley reiterated a “hold” rating on shares of News Corp. in a research note on Thursday, August 18th. Finally, TheStreet upgraded News Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.13.
News Corp. (NASDAQ:NWSA) traded down 1.02% on Wednesday, reaching $13.53. The company’s stock had a trading volume of 1,114,489 shares. News Corp. has a 12 month low of $10.21 and a 12 month high of $15.68. The company has a market cap of $7.85 billion, a P/E ratio of 44.36 and a beta of 2.01. The company has a 50-day moving average price of $13.93 and a 200 day moving average price of $12.71.
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News Corp. (NASDAQ:NWSA) last released its quarterly earnings data on Monday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.03. News Corp. had a return on equity of 1.95% and a net margin of 2.16%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year.
The company also recently declared a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio (DPR) is presently 66.67%.
In related news, CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the completion of the sale, the chief financial officer now directly owns 33,667 shares in the company, valued at approximately $484,468.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.88% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in NWSA. Adage Capital Partners GP L.L.C. increased its stake in News Corp. by 0.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 568,673 shares of the company’s stock valued at $7,262,000 after buying an additional 3,014 shares during the period. Credit Agricole S A increased its stake in News Corp. by 19.8% in the first quarter. Credit Agricole S A now owns 65,350 shares of the company’s stock valued at $835,000 after buying an additional 10,791 shares during the period. Geode Capital Management LLC increased its stake in News Corp. by 2.0% in the first quarter. Geode Capital Management LLC now owns 3,405,598 shares of the company’s stock valued at $43,408,000 after buying an additional 66,974 shares during the period. BlueMountain Capital Management LLC increased its stake in News Corp. by 15.9% in the first quarter. BlueMountain Capital Management LLC now owns 6,963,170 shares of the company’s stock valued at $88,920,000 after buying an additional 957,265 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in News Corp. by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 487,346 shares of the company’s stock valued at $6,223,000 after buying an additional 47,902 shares during the period. Institutional investors and hedge funds own 95.59% of the company’s stock.
About News Corp.
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. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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