Royal Bank of Canada Has $1.79 Million Stock Holdings in News Corporation $NWS

Royal Bank of Canada reduced its position in shares of News Corporation (NASDAQ:NWS) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 62,720 shares of the company’s stock after selling 28,104 shares during the quarter. Royal Bank of Canada’s holdings in News were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NWS. NewEdge Advisors LLC bought a new stake in shares of News during the second quarter valued at approximately $30,000. ExodusPoint Capital Management LP acquired a new stake in News in the 4th quarter valued at $37,000. Arax Advisory Partners bought a new stake in News during the 4th quarter valued at $47,000. Resona Asset Management Co. Ltd. increased its position in shares of News by 69.0% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 1,629 shares of the company’s stock worth $49,000 after acquiring an additional 665 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in News by 74.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,056 shares of the company’s stock valued at $62,000 after acquiring an additional 878 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

News Stock Performance

NWS stock opened at $33.49 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.12 billion, a PE ratio of 32.51 and a beta of 0.88. The business has a 50 day moving average of $30.86 and a 200-day moving average of $29.41. News Corporation has a 12-month low of $25.49 and a 12-month high of $35.31.

News (NASDAQ:NWS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. News had a return on equity of 7.09% and a net margin of 6.35%.The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. As a group, sell-side analysts expect that News Corporation will post 1.31 earnings per share for the current year.

News Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.10 per share. This represents a dividend yield of 60.0%. The ex-dividend date is Wednesday, September 9th. News’s payout ratio is presently 19.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings raised News from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, News currently has an average rating of “Moderate Buy”.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.