Equities Analysts Set Expectations for News Corp.’s Q3 2017 Earnings (NWSA)
News Corp. (NASDAQ:NWSA) – Analysts at Jefferies Group reduced their Q3 2017 earnings per share estimates for News Corp. in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will earn $0.02 per share for the quarter, down from their prior forecast of $0.03. Jefferies Group has a “Buy” rating and a $18.00 price target on the stock. Jefferies Group also issued estimates for News Corp.’s Q1 2018 earnings at $0.01 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.04 EPS and Q4 2018 earnings at $0.11 EPS.
NWSA has been the subject of several other research reports. Morgan Stanley reissued a “hold” rating on shares of News Corp. in a research note on Thursday, August 18th. TheStreet lowered News Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Bank of America Corp. lowered News Corp. from a “neutral” rating to an “underperform” rating and set a $14.00 price objective for the company. in a report on Thursday, October 27th. Finally, Zacks Investment Research lowered News Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.50.
Shares of News Corp. (NASDAQ:NWSA) opened at 12.12 on Thursday. The company’s 50-day moving average price is $13.16 and its 200-day moving average price is $12.70. The stock has a market cap of $7.03 billion, a PE ratio of 39.74 and a beta of 2.06. News Corp. has a 52-week low of $10.21 and a 52-week high of $14.68.
News Corp. (NASDAQ:NWSA) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.00 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.96 billion. News Corp. had a positive return on equity of 1.64% and a negative net margin of 0.13%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS.
Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in shares of News Corp. by 49.6% in the third quarter. Victory Capital Management Inc. now owns 7,265 shares of the company’s stock valued at $102,000 after buying an additional 2,408 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of News Corp. during the second quarter valued at approximately $116,000. Conning Inc. bought a new stake in shares of News Corp. during the second quarter valued at approximately $118,000. Springbok Capital Management LLC bought a new stake in shares of News Corp. during the first quarter valued at approximately $136,000. Finally, Societe Generale bought a new stake in shares of News Corp. during the second quarter valued at approximately $121,000. 95.24% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Bedi Ajay Singh sold 29,857 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total transaction of $429,642.23. Following the completion of the sale, the chief financial officer now directly owns 33,667 shares of the company’s stock, valued at $484,468.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 13.93% of the company’s stock.
About News Corp.
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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