Equities Analysts Offer Predictions for News Corp.’s Q3 2017 Earnings (NWSA)
News Corp. (NASDAQ:NWSA) – Jefferies Group upped their Q3 2017 EPS estimates for shares of News Corp. in a research note issued on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will earn $0.03 per share for the quarter, up from their prior estimate of $0.02.
News Corp. (NASDAQ:NWSA) last released its quarterly earnings data on Monday, August 8th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.13 by $0.03. News Corp. had a net margin of 2.16% and a return on equity of 1.95%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of News Corp. from a “hold” rating to a “sell” rating in a research report on Monday, September 26th. Morgan Stanley reaffirmed a “hold” rating on shares of News Corp. in a report on Thursday, August 18th. Finally, TheStreet raised shares of News Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $17.13.
News Corp. (NASDAQ:NWSA) traded down 1.02% on Wednesday, hitting $13.53. 1,114,489 shares of the company’s stock traded hands. The stock has a market cap of $7.85 billion, a PE ratio of 44.36 and a beta of 2.01. The stock has a 50-day moving average of $13.93 and a 200-day moving average of $12.71. News Corp. has a one year low of $10.21 and a one year high of $15.68.
Several institutional investors have recently modified their holdings of NWSA. Sentry Investment Management LLC raised its position in shares of News Corp. by 5,871.2% in the first quarter. Sentry Investment Management LLC now owns 7,882 shares of the company’s stock valued at $101,000 after buying an additional 7,750 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of News Corp. during the second quarter valued at approximately $116,000. Conning Inc. bought a new position in shares of News Corp. during the second quarter valued at approximately $118,000. Springbok Capital Management LLC bought a new position in shares of News Corp. during the first quarter valued at approximately $136,000. Finally, Societe Generale bought a new position in shares of News Corp. during the second quarter valued at approximately $121,000. Hedge funds and other institutional investors own 95.59% of the company’s stock.
In other News Corp. news, CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $14.39, for a total value of $429,642.23. Following the transaction, the chief financial officer now directly owns 33,667 shares in the company, valued at approximately $484,468.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.88% of the company’s stock.
The firm also recently declared a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s payout ratio is presently 66.67%.
News Corp. 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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