News Corporation (NASDAQ:NWSA) – Jefferies Group lifted their Q3 2018 earnings per share (EPS) estimates for News Corporation in a research note issued to investors on Thursday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will post earnings of $0.07 per share for the quarter, up from their previous estimate of $0.04. Jefferies Group also issued estimates for News Corporation’s Q1 2019 earnings at $0.04 EPS, Q2 2019 earnings at $0.28 EPS and FY2019 earnings at $0.56 EPS.
News Corporation (NASDAQ:NWSA) last issued its quarterly earnings data on Thursday, February 9th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.11 billion. News Corporation had a negative net margin of 4.43% and a positive return on equity of 1.63%. News Corporation’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS.
NWSA has been the subject of a number of other research reports. TheStreet downgraded News Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 26th. Bank of America Corporation cut News Corporation from a “neutral” rating to an “underperform” rating and set a $14.00 price target on the stock. in a research report on Thursday, October 27th. Zacks Investment Research upgraded News Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Finally, Guggenheim reiterated a “neutral” rating on shares of News Corporation in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.00.
Shares of News Corporation (NASDAQ:NWSA) opened at 13.29 on Monday. News Corporation has a 52-week low of $10.47 and a 52-week high of $14.68. The firm’s 50 day moving average is $12.09 and its 200-day moving average is $12.74. The company’s market capitalization is $7.72 billion.
The company also recently disclosed a semiannual dividend, which will be paid on Wednesday, April 19th. Stockholders of record on Wednesday, March 15th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, March 13th. This represents a dividend yield of 1.5%. News Corporation’s dividend payout ratio is -31.25%.
Several large investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan increased its stake in shares of News Corporation by 1.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,130 shares of the company’s stock valued at $170,000 after buying an additional 160 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of News Corporation by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,894 shares of the company’s stock valued at $251,000 after buying an additional 160 shares during the period. Arizona State Retirement System increased its stake in shares of News Corporation by 0.3% in the third quarter. Arizona State Retirement System now owns 93,687 shares of the company’s stock valued at $1,310,000 after buying an additional 300 shares during the period. Advantus Capital Management Inc increased its stake in shares of News Corporation by 1.0% in the third quarter. Advantus Capital Management Inc now owns 37,235 shares of the company’s stock valued at $521,000 after buying an additional 371 shares during the period. Finally, Norinchukin Bank The increased its stake in shares of News Corporation by 2.1% in the third quarter. Norinchukin Bank The now owns 20,374 shares of the company’s stock valued at $285,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 95.71% of the company’s stock.
About News Corporation
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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