News Corporation (NWSA) Expected to Announce Quarterly Sales of $1.98 Billion
Brokerages expect that News Corporation (NASDAQ:NWSA) will report sales of $1.98 billion for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for News Corporation’s earnings, with the lowest sales estimate coming in at $1.97 billion and the highest estimate coming in at $1.99 billion. News Corporation posted sales of $1.97 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The company is expected to issue its next quarterly 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 fiscal year, with estimates ranging from $7.85 billion to $8.19 billion. For the next year, analysts forecast that the firm will post sales of $7.79 billion per share, with estimates ranging from $6.62 billion to $8.22 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow News Corporation.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $2.08 billion during 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 quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded News Corporation from a “sell” rating to a “hold” rating and set a $15.00 price objective on the stock in a report on Tuesday. Jefferies Group LLC restated a “buy” rating and issued a $17.00 price objective on shares of News Corporation in a report on Sunday, July 30th. Finally, Rosenblatt Securities assumed coverage on News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.17.
Shares of News Corporation (NWSA) opened at 13.68 on Friday. The stock’s 50 day moving average is $13.29 and its 200-day moving average is $13.30. The stock’s market capitalization is $7.96 billion. News Corporation has a one year low of $10.99 and a one year high of $14.48.
The business also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be given 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%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Independent Franchise Partners LLP bought a new stake in shares of News Corporation in the second quarter valued at approximately $45,581,000. First Quadrant L P CA bought a new stake in shares of News Corporation in the second quarter valued at approximately $2,262,000. CIBC Asset Management Inc boosted its position in shares of News Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after acquiring an additional 133 shares during the period. Dodge & Cox boosted its position in shares of News Corporation by 10.6% in the second quarter. Dodge & Cox now owns 10,882,034 shares of the company’s stock valued at $149,084,000 after acquiring an additional 1,040,473 shares during the period. Finally, Quinn Opportunity Partners LLC boosted its position in shares of News Corporation by 15.7% in the second quarter. Quinn Opportunity Partners LLC now owns 393,358 shares of the company’s stock valued at $5,389,000 after acquiring an additional 53,455 shares during the period. 60.61% of the stock is owned by institutional investors.
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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