News Corp (NASDAQ:NWSA) – Analysts at Jefferies Group reduced their Q3 2018 earnings estimates for News in a research note issued to investors on Thursday. Jefferies Group analyst J. Janedis now forecasts that the company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.07. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for News’ Q4 2018 earnings at $0.13 EPS, Q1 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.08 EPS, FY2019 earnings at $0.58 EPS, Q1 2020 earnings at $0.12 EPS and FY2020 earnings at $0.63 EPS.
NWSA has been the topic of several other reports. Zacks Investment Research lowered shares of News from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. TheStreet lowered shares of News from a “b-” rating to a “c+” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. News presently has a consensus rating of “Buy” and a consensus price target of $17.00.
News (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.05. News had a negative net margin of 5.41% and a positive return on equity of 2.52%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the business earned $0.19 EPS. News’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC acquired a new position in News in the fourth quarter valued at $128,000. LMR Partners LLP acquired a new position in News in the third quarter valued at $134,000. Vident Investment Advisory LLC acquired a new position in News in the third quarter valued at $140,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in News in the third quarter valued at $149,000. Finally, Balyasny Asset Management LLC acquired a new position in News in the second quarter valued at $155,000. Institutional investors own 61.40% of the company’s stock.
The business also recently declared a semiannual dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, March 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 13th. This represents a yield of 1.27%. News’s dividend payout ratio is currently -25.97%.
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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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