Jefferies Group LLC reiterated their buy rating on shares of News Corporation (NASDAQ:NWSA) in a research report released on Sunday, July 30th. They currently have a $17.00 price objective on the stock.
Several other research firms also recently commented on NWSA. Zacks Investment Research downgraded shares of News Corporation from a hold rating to a sell rating in a research note on Thursday, May 11th. Rosenblatt Securities started coverage on shares of News Corporation in a research note on Friday, July 14th. They issued a buy rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $15.20.
Shares of News Corporation (NWSA) traded up 0.38% on Friday, reaching $13.28. 1,347,849 shares of the company’s stock traded hands. The company’s 50-day moving average price is $13.78 and its 200 day moving average price is $13.13. News Corporation has a one year low of $10.99 and a one year high of $14.68. The firm’s market cap is $7.73 billion.
News Corporation (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The company had revenue of $2.08 billion for 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 firm’s revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 EPS. On average, equities analysts forecast that News Corporation will post $0.46 EPS for the current fiscal year.
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The firm 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. This represents a yield of 1.49%. The ex-dividend date is Tuesday, September 12th. News Corporation’s dividend payout ratio (DPR) is -15.63%.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in News Corporation by 3,067.8% in the first quarter. BlackRock Inc. now owns 25,055,960 shares of the company’s stock worth $325,727,000 after buying an additional 24,265,013 shares in the last quarter. Janus Henderson Group PLC boosted its stake in News Corporation by 12,388.4% in the second quarter. Janus Henderson Group PLC now owns 7,488,062 shares of the company’s stock worth $102,586,000 after buying an additional 7,428,102 shares in the last quarter. Independent Franchise Partners LLP purchased a new stake in News Corporation during the second quarter worth $45,581,000. Vanguard Group Inc. boosted its stake in News Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 46,736,555 shares of the company’s stock worth $607,574,000 after buying an additional 1,779,315 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in News Corporation by 20.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,363,096 shares of the company’s stock worth $128,274,000 after buying an additional 1,584,753 shares in the last quarter. Institutional investors and hedge funds own 93.53% 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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