Q1 2018 Earnings Estimate for News Corporation (NWSA) Issued By Jefferies Group
News Corporation (NASDAQ:NWSA) – Investment analysts at Jefferies Group lifted their Q1 2018 earnings estimates for shares of News Corporation in a research note issued on Tuesday. Jefferies Group analyst J. Janedis now forecasts that the company will earn $0.00 per share for the quarter, up from their previous estimate of ($0.01). Jefferies Group currently has a “Buy” rating and a $17.00 target price on the stock. Jefferies Group also issued estimates for News Corporation’s Q2 2018 earnings at $0.23 EPS, FY2018 earnings at $0.45 EPS and FY2019 earnings at $0.52 EPS.
A number of other equities analysts have also commented on NWSA. Rosenblatt Securities initiated coverage on News Corporation in a research note on Friday, July 14th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Investment Research lowered News Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. News Corporation currently has a consensus rating of “Hold” and an average price target of $15.17.
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News Corporation (NASDAQ:NWSA) last announced its quarterly earnings results 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 business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. News Corporation’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS.
The firm also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s payout ratio is -15.63%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC increased its stake in shares of News Corporation by 0.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 15,319 shares of the company’s stock valued at $210,000 after purchasing an additional 46 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of News Corporation by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,394 shares of the company’s stock valued at $389,000 after purchasing an additional 81 shares during the last quarter. ING Groep NV increased its stake in shares of News Corporation by 0.5% in the 2nd quarter. ING Groep NV now owns 21,062 shares of the company’s stock valued at $289,000 after purchasing an additional 102 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of News Corporation by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after purchasing an additional 133 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of News Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the company’s stock valued at $325,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 60.61% 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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