Q1 2017 Earnings Forecast for News Corp Issued By Jefferies Group (NWSA)
News Corp (NASDAQ:NWSA) – Analysts at Jefferies Group reduced their Q1 2017 earnings per share (EPS) estimates for News Corp in a report released on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will earn ($0.01) per share for the quarter, down from their prior forecast of $0.02. Jefferies Group also issued estimates for News Corp’s Q2 2017 earnings at $0.19 EPS, Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.32 EPS and FY2018 earnings at $0.37 EPS.
Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of News Corp from a “sell” rating to a “hold” rating in a report on Monday, July 11th. 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 assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.13.
Shares of News Corp (NASDAQ:NWSA) traded up 0.705% during trading on Tuesday, hitting $13.565. 1,739,097 shares of the stock traded hands. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 44.475 and a beta of 2.01. The company has a 50 day moving average price of $13.92 and a 200 day moving average price of $12.71. News Corp has a 12 month low of $10.21 and a 12 month high of $15.68.
News Corp (NASDAQ:NWSA) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.10 earnings per share 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 analyst estimates of $2.06 billion. During the same quarter in the prior year, the company posted $0.07 EPS. News Corp’s revenue for the quarter was up 5.1% on a year-over-year basis.
A number of large investors have recently made changes to their positions in the company. Sentry Investment Management LLC raised its stake 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 worth $101,000 after buying an additional 7,750 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of News Corp during the second quarter worth about $116,000. Conning Inc. purchased a new stake in shares of News Corp during the second quarter worth about $118,000. Societe Generale purchased a new stake in shares of News Corp during the second quarter worth about $121,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of News Corp during the second quarter worth about $130,000. 95.59% of the stock is currently owned by institutional investors and hedge funds.
In other News Corp news, CFO Bedi Ajay Singh sold 29,857 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $14.39, for a total value of $429,642.23. Following the sale, the chief financial officer now owns 33,667 shares of the company’s stock, valued at approximately $484,468.13. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.88% of the stock is currently owned by company insiders.
The company also recently declared a dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, September 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 12th. News Corp’s dividend payout ratio (DPR) 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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