Analysts Anticipate News Corporation (NASDAQ:NWSA) Will Post Quarterly Sales of $2.11 Billion
Brokerages expect News Corporation (NASDAQ:NWSA) to report $2.11 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for News Corporation’s earnings. The lowest sales estimate is $2.09 billion and the highest is $2.13 billion. News Corporation reported sales of $2.23 billion during the same quarter last year, which would suggest a negative year over year growth rate of 5.4%. The business is expected to report its next earnings report on Monday, August 14th.
On average, analysts expect that News Corporation will report full year sales of $2.11 billion for the current fiscal year, with estimates ranging from $8.05 billion to $8.19 billion. For the next year, analysts forecast that the firm will post sales of $8.08 billion per share, with estimates ranging from $7.85 billion to $8.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for News Corporation.
News Corporation (NASDAQ:NWSA) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. News Corporation had a negative net margin of 2.64% and a positive return on equity of 1.77%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of News Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $17.00 price target on shares of News Corporation in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. News Corporation currently has an average rating of “Hold” and a consensus price target of $14.75.
Institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in News Corporation by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,894 shares of the company’s stock worth $251,000 after buying an additional 160 shares during the period. New Mexico Educational Retirement Board boosted its position in News Corporation by 0.5% in the first quarter. New Mexico Educational Retirement Board now owns 38,701 shares of the company’s stock worth $503,000 after buying an additional 200 shares during the period. Advantus Capital Management Inc boosted its position in News Corporation by 0.6% in the first quarter. Advantus Capital Management Inc now owns 38,187 shares of the company’s stock worth $496,000 after buying an additional 232 shares during the period. State Treasurer State of Michigan boosted its position in News Corporation by 0.3% in the first quarter. State Treasurer State of Michigan now owns 125,339 shares of the company’s stock worth $1,629,000 after buying an additional 400 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock worth $120,000 after buying an additional 413 shares during the period. 92.63% of the stock is currently owned by institutional investors and hedge funds.
News Corporation (NASDAQ:NWSA) traded up 0.23% during mid-day trading on Friday, reaching $13.27. 309,683 shares of the company traded hands. The stock’s 50 day moving average price is $13.36 and its 200 day moving average price is $12.69. The firm’s market capitalization is $7.72 billion. News Corporation has a 52 week low of $10.99 and a 52 week high of $14.68.
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News Corporation Company Profile
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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