News (NASDAQ:NWSA – Get Free Report) posted its earnings results on Wednesday. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02, Zacks reports. News had a return on equity of 7.40% and a net margin of 6.76%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. News’s revenue for the quarter was up 6.4% compared to the same quarter last year.
News Stock Down 0.3%
NASDAQ:NWSA traded down $0.08 during midday trading on Friday, hitting $26.40. 4,817,877 shares of the company were exchanged, compared to its average volume of 4,384,580. The company has a fifty day simple moving average of $29.66 and a 200 day simple moving average of $26.96. News has a fifty-two week low of $22.20 and a fifty-two week high of $31.66. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $14.29 billion, a PE ratio of 23.57 and a beta of 1.01.
Analyst Ratings Changes
NWSA has been the subject of a number of recent analyst reports. Zacks Research downgraded News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Wall Street Zen downgraded News from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Raymond James Financial assumed coverage on News in a research report on Monday, October 19th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, News presently has an average rating of “Moderate Buy” and an average price target of $37.80.
Get Our Latest Stock Analysis on NWSA
About News
News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.
Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.
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