News Corporation (NASDAQ:NWSA) – Equities researchers at Jefferies Group increased their Q1 2018 earnings estimates for shares of News Corporation in a research note issued on Tuesday. Jefferies Group analyst J. Janedis now anticipates that the company will earn $0.00 per share for the quarter, up from their prior forecast of ($0.01). Jefferies Group has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for News Corporation’s Q2 2018 earnings at $0.23 EPS, FY2018 earnings at $0.45 EPS and FY2019 earnings at $0.52 EPS.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. News Corporation had a positive return on equity of 1.83% and a negative net margin of 9.07%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business posted $0.10 EPS. News Corporation’s revenue for the quarter was down 6.6% compared to the same quarter last year.
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Other analysts have also recently issued research reports about the stock. Rosenblatt Securities initiated coverage on shares of News Corporation in a research note on Friday, July 14th. They set a “buy” rating and a $17.00 target price for the company. Zacks Investment Research raised shares of News Corporation from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. News Corporation presently has a consensus rating of “Hold” and an average target price of $15.17.
Shares of News Corporation (NASDAQ NWSA) traded up 0.775% during midday trading on Thursday, reaching $13.645. The company’s stock had a trading volume of 386,310 shares. The stock has a 50-day moving average of $13.27 and a 200 day moving average of $13.30. News Corporation has a 12-month low of $10.99 and a 12-month high of $14.49. The firm’s market capitalization is $7.94 billion.
The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 12th. This represents a yield of 1.49%. News Corporation’s dividend payout ratio is presently -15.63%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. purchased a new stake in News Corporation during the 1st quarter valued at about $118,000. Pacer Advisors Inc. grew its stake in News Corporation by 56.6% during the 1st quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after acquiring an additional 3,853 shares in the last quarter. Creative Planning grew its stake in News Corporation by 109.9% during the 2nd quarter. Creative Planning now owns 11,068 shares of the company’s stock valued at $152,000 after acquiring an additional 5,795 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in News Corporation during the 2nd quarter valued at about $155,000. Finally, Parametrica Management Ltd purchased a new stake in News Corporation during the 2nd quarter valued at about $156,000. 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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