News Corporation (NASDAQ:NWSA) issued its quarterly earnings results on Thursday. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02, Bloomberg Earnings reports. The business 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 1.81%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS.
Shares of News Corporation (NWSA) traded down 1.83% during mid-day trading on Friday, reaching $13.43. The company’s stock had a trading volume of 3,491,029 shares. The firm’s market cap is $7.82 billion. The company has a 50-day moving average of $13.83 and a 200-day moving average of $13.10. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.68.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a yield of 1.49%. News Corporation’s dividend payout ratio is currently -15.63%.
Several research analysts recently issued reports on NWSA shares. Rosenblatt Securities started coverage on shares of News Corporation in a research report on Friday, July 14th. They set a “buy” rating and a $17.00 price target on the stock. Zacks Investment Research downgraded shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $17.00 price target on shares of News Corporation in a research report on Monday, May 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.20.
A number of institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new position in shares of News Corporation during the first quarter valued at approximately $118,000. Mn Services Vermogensbeheer B.V. raised its position in shares of News Corporation by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the period. Pacer Advisors Inc. raised its position in shares of News Corporation by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares during the period. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of News Corporation during the first quarter valued at approximately $143,000. Finally, Creative Planning raised its position in shares of News Corporation by 109.9% in the second quarter. Creative Planning now owns 11,068 shares of the company’s stock valued at $152,000 after buying an additional 5,795 shares during the period. Institutional investors and hedge funds own 93.93% of the company’s stock.
News Corporation Company Profile
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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