News Corp. (NASDAQ:NWSA) CFO Bedi Ajay Singh sold 29,857 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the completion of the sale, the chief financial officer now directly owns 33,667 shares in the company, valued at $484,468.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of News Corp. (NASDAQ:NWSA) opened at 14.11 on Monday. News Corp. has a 52 week low of $10.21 and a 52 week high of $15.68. The firm’s 50-day moving average is $13.93 and its 200-day moving average is $12.69. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 46.26 and a beta of 2.01.
News Corp. (NASDAQ:NWSA) last released its quarterly earnings data on Monday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the prior year, the business posted $0.07 earnings per share. News Corp.’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts forecast that News Corp. will post $0.46 earnings per share for the current fiscal year.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 12th. News Corp.’s dividend payout ratio is presently 66.67%.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in News Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 42,926,641 shares of the company’s stock worth $487,218,000 after buying an additional 769,193 shares in the last quarter. State Street Corp increased its position in News Corp. by 0.5% in the first quarter. State Street Corp now owns 16,030,382 shares of the company’s stock worth $204,712,000 after buying an additional 82,125 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in News Corp. by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,955,922 shares of the company’s stock worth $127,137,000 after buying an additional 228,067 shares in the last quarter. Ameriprise Financial Inc. increased its position in News Corp. by 49.6% in the second quarter. Ameriprise Financial Inc. now owns 9,327,052 shares of the company’s stock worth $105,859,000 after buying an additional 3,094,200 shares in the last quarter. Finally, Dodge & Cox increased its position in News Corp. by 4.4% in the first quarter. Dodge & Cox now owns 8,318,002 shares of the company’s stock worth $106,221,000 after buying an additional 347,225 shares in the last quarter. Hedge funds and other institutional investors own 95.59% of the company’s stock.
A number of brokerages recently weighed in on NWSA. Zacks Investment Research lowered shares of News Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Morgan Stanley restated a “hold” rating on shares of News Corp. in a report on Thursday, August 18th. Finally, TheStreet upgraded shares of News Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.13.
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.
Receive News & Ratings for News Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for News Corp. and related companies with MarketBeat.com's FREE daily email newsletter.