News Corporation (NWSA) Expected to Announce Quarterly Sales of $1.98 Billion
Analysts expect News Corporation (NASDAQ:NWSA) to post sales of $1.98 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for News Corporation’s earnings, with the highest sales estimate coming in at $2.00 billion and the lowest estimate coming in at $1.97 billion. News Corporation posted sales of $1.97 billion during the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is expected to announce its next earnings results on Monday, November 6th.
On average, analysts expect that News Corporation will report full-year sales of $1.98 billion for the current year, with estimates ranging from $7.85 billion to $8.19 billion. For the next fiscal year, analysts expect that the firm will post sales of $8.09 billion per share, with estimates ranging from $7.70 billion to $8.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow News Corporation.
News Corporation (NASDAQ:NWSA) last announced its quarterly earnings data on Thursday, August 10th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.11 billion. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The company’s revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of News Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $17.00 target price on shares of News Corporation in a research report on Sunday, July 30th. Finally, Rosenblatt Securities began coverage on shares of News Corporation in a research report on Friday, July 14th. They set a “buy” rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.20.
Shares of News Corporation (NWSA) opened at 13.03 on Monday. The stock’s 50 day moving average is $13.49 and its 200 day moving average is $13.22. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.68. The company’s market capitalization is $7.58 billion.
The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a yield of 1.49%. News Corporation’s payout ratio is currently -15.63%.
Several institutional investors have recently made changes to their positions in the company. Independent Franchise Partners LLP acquired a new position in News Corporation in the 2nd quarter valued at $45,581,000. First Quadrant L P CA purchased a new stake in shares of News Corporation during the 2nd quarter worth $2,262,000. CIBC Asset Management Inc boosted its position in shares of News Corporation by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock worth $598,000 after purchasing an additional 133 shares in the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of News Corporation by 15.7% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 393,358 shares of the company’s stock worth $5,389,000 after purchasing an additional 53,455 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of News Corporation by 1.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 247,235 shares of the company’s stock worth $3,387,000 after purchasing an additional 3,800 shares in the last quarter. 60.62% of the stock is currently owned by institutional investors and hedge funds.
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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