Zacks: Analysts Anticipate News Corp (NWSA) to Post $0.08 Earnings Per Share

Wall Street brokerages expect News Corp (NASDAQ:NWSA) to post earnings per share of $0.08 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for News’ earnings. The highest EPS estimate is $0.10 and the lowest is $0.06. News reported earnings of $0.07 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that News will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.47 to $0.56. For the next year, analysts expect that the company will post earnings of $0.61 per share, with EPS estimates ranging from $0.57 to $0.69. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow News.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. News had a negative net margin of 5.41% and a positive return on equity of 2.52%. News’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share.

NWSA has been the topic of a number of recent research reports. TheStreet raised shares of News from a “c+” rating to a “b-” rating in a research note on Tuesday, December 5th. Zacks Investment Research cut shares of News from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of News in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $17.00.

Shares of News (NWSA) traded up $0.47 during mid-day trading on Wednesday, reaching $16.22. 2,672,100 shares of the company’s stock were exchanged, compared to its average volume of 2,425,495. News has a 1 year low of $12.19 and a 1 year high of $17.29. The company has a market capitalization of $9,176.28, a PE ratio of -21.06, a PEG ratio of 2.46 and a beta of 2.01. The company has a current ratio of 1.64, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

The company also recently declared a semiannual dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, March 14th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 13th. This represents a dividend yield of 1.27%. News’s dividend payout ratio is -25.97%.

Several hedge funds and other institutional investors have recently made changes to their positions in NWSA. Cerebellum GP LLC bought a new position in shares of News during the fourth quarter worth $128,000. LMR Partners LLP bought a new position in shares of News during the third quarter worth $134,000. Vident Investment Advisory LLC bought a new position in shares of News during the third quarter worth $140,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in News in the 3rd quarter valued at $149,000. Finally, Balyasny Asset Management LLC bought a new stake in News in the 2nd quarter valued at $155,000. 61.28% of the stock is currently owned by institutional investors.

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About News

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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