News Corp. (NASDAQ:NWSA) – Jefferies Group dropped their Q1 2017 earnings per share estimates for shares of News Corp. in a note issued to investors on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will earn ($0.01) per share for the quarter, down from their previous estimate 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.
NWSA has been the subject of a number of other reports. TheStreet upgraded shares of News Corp. from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Zacks Investment Research cut shares of News Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Morgan Stanley restated a “hold” rating on shares of News Corp. in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.13.
Shares of News Corp. (NASDAQ:NWSA) traded down 0.37% during mid-day trading on Tuesday, reaching $13.62. The company had a trading volume of 190,863 shares. The company’s 50-day moving average price is $13.93 and its 200-day moving average price is $12.71. News Corp. has a 52-week low of $10.21 and a 52-week high of $15.68. The company has a market capitalization of $7.90 billion, a PE ratio of 44.66 and a beta of 2.01.
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 Thomson Reuters’ consensus estimate of $0.13 by $0.03. The firm earned $2.23 billion during the quarter, compared to the consensus estimate of $2.06 billion. News Corp. had a net margin of 2.16% and a return on equity of 1.95%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $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 worth approximately $116,000. Conning Inc. bought a new position in shares of News Corp. during the second quarter worth approximately $118,000. Societe Generale bought a new position in shares of News Corp. during the second quarter worth approximately $121,000. Finally, GSA Capital Partners LLP bought a new position in shares of News Corp. during the second quarter worth approximately $130,000. 95.59% 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 dated Monday, October 3rd. The shares were sold at an average price of $14.39, for a total transaction of $429,642.23. Following the completion of the transaction, the chief financial officer now owns 33,667 shares of the company’s stock, valued at $484,468.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.88% of the company’s stock.
The business also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Stockholders 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 dividend payout ratio is currently 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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