Q1 2018 Earnings Forecast for News Corporation (NWSA) Issued By Jefferies Group
News Corporation (NASDAQ:NWSA) – Stock analysts at Jefferies Group dropped their Q1 2018 earnings estimates for shares of News Corporation in a research note issued on Thursday. Jefferies Group analyst J. Janedis now expects that the company will post earnings of ($0.01) per share for the quarter, down from their prior forecast of $0.01. Jefferies Group has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for News Corporation’s Q2 2018 earnings at $0.21 EPS, FY2018 earnings at $0.42 EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at $0.24 EPS, FY2019 earnings at $0.48 EPS and FY2020 earnings at $0.52 EPS.
Several other equities research analysts have also commented on NWSA. Zacks Investment Research lowered shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Rosenblatt Securities started coverage on shares of News Corporation in a research report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.20.
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Shares of News Corporation (NWSA) opened at 13.43 on Monday. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.68. The stock has a 50 day moving average of $13.83 and a 200-day moving average of $13.10. The firm’s market capitalization is $7.82 billion.
News Corporation (NASDAQ:NWSA) last issued its earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.02. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.81%. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, September 12th. This represents a yield of 1.49%. News Corporation’s dividend payout ratio (DPR) is -15.63%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in News Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 47,879,238 shares of the company’s stock worth $655,946,000 after buying an additional 1,142,683 shares during the period. BlackRock Inc. raised its position in News Corporation by 1.0% in the second quarter. BlackRock Inc. now owns 25,306,802 shares of the company’s stock worth $346,703,000 after buying an additional 250,842 shares during the period. State Street Corp raised its position in News Corporation by 6.0% in the first quarter. State Street Corp now owns 17,510,994 shares of the company’s stock worth $227,645,000 after buying an additional 989,997 shares during the period. Artisan Partners Limited Partnership raised its position in News Corporation by 1.4% in the first quarter. Artisan Partners Limited Partnership now owns 11,816,314 shares of the company’s stock worth $153,612,000 after buying an additional 167,178 shares during the period. Finally, Dodge & Cox raised its position in News Corporation by 10.6% in the second quarter. Dodge & Cox now owns 10,882,034 shares of the company’s stock worth $149,084,000 after buying an additional 1,040,473 shares during the period. Institutional investors own 93.53% of the company’s stock.
About News Corporation
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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