Analysts forecast that News Corp (NASDAQ:NWSA) will announce earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for News’ earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.04. News posted earnings of $0.07 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.3%. The business is scheduled to issue its next earnings results on Thursday, November 8th.
On average, analysts expect that News will report full-year earnings of $0.41 per share for the current financial year, with EPS estimates ranging from $0.38 to $0.45. For the next fiscal year, analysts anticipate that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.44 to $0.57. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow News.
News (NASDAQ:NWSA) last released its earnings results on Thursday, August 9th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.36 billion. News had a positive return on equity of 2.41% and a negative net margin of 16.78%. News’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.
A number of analysts recently weighed in on the company. ValuEngine upgraded News from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research upgraded News from a “sell” rating to a “hold” rating in a research report on Tuesday, July 17th. Morgan Stanley downgraded News from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $17.00 to $12.50 in a research report on Monday, August 20th. Goldman Sachs Group upgraded News from a “neutral” rating to a “buy” rating in a research report on Tuesday. Finally, UBS Group upgraded News from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. News presently has an average rating of “Hold” and a consensus price target of $15.50.
A number of hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC lifted its position in News by 1.3% in the second quarter. Pzena Investment Management LLC now owns 22,271,937 shares of the company’s stock valued at $345,215,000 after purchasing an additional 280,602 shares during the last quarter. Guggenheim Capital LLC lifted its position in News by 15.6% in the first quarter. Guggenheim Capital LLC now owns 2,507,338 shares of the company’s stock valued at $39,617,000 after purchasing an additional 339,163 shares during the last quarter. Bank of Montreal Can lifted its position in News by 9.8% in the third quarter. Bank of Montreal Can now owns 1,164,419 shares of the company’s stock valued at $15,359,000 after purchasing an additional 103,808 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in News by 0.7% in the first quarter. Asset Management One Co. Ltd. now owns 577,254 shares of the company’s stock valued at $9,121,000 after purchasing an additional 4,221 shares during the last quarter. Finally, Millennium Management LLC lifted its position in News by 126.8% in the first quarter. Millennium Management LLC now owns 487,538 shares of the company’s stock valued at $7,703,000 after purchasing an additional 272,542 shares during the last quarter. Hedge funds and other institutional investors own 60.88% of the company’s stock.
NASDAQ:NWSA traded up $0.12 during mid-day trading on Friday, reaching $12.82. The stock had a trading volume of 9,594,700 shares, compared to its average volume of 2,518,763. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 4.76 and a beta of 1.86. News has a one year low of $12.23 and a one year high of $17.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.33 and a quick ratio of 1.22.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Wednesday, September 12th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a yield of 1.47%. News’s payout ratio is currently 45.45%.
News Company Profile
News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.
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