News (NWSA) to Release Quarterly Earnings on Thursday

by · The Cerbat Gem

News (NASDAQ:NWSAGet Free Report) is expected to be releasing its results after the market closes on Thursday, May 7th. Analysts expect News to post earnings of $0.16 per share and revenue of $2.1105 billion for the quarter.

News (NASDAQ:NWSAGet Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.07. News had a return on equity of 5.94% and a net margin of 13.35%.The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business earned $0.33 earnings per share. News’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts expect News to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

News Stock Performance

Shares of NWSA traded down $0.35 during trading hours on Tuesday, hitting $25.46. The stock had a trading volume of 2,402,527 shares, compared to its average volume of 4,141,041. News has a fifty-two week low of $22.20 and a fifty-two week high of $31.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.69 and a current ratio of 1.81. The firm has a 50-day moving average price of $24.69 and a 200 day moving average price of $25.39. The firm has a market capitalization of $14.14 billion, a price-to-earnings ratio of 12.55 and a beta of 0.89.

News Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 11th were paid a dividend of $0.10 per share. This represents a dividend yield of 83.0%. The ex-dividend date of this dividend was Wednesday, March 11th. News’s dividend payout ratio is presently 9.85%.

Wall Street Analyst Weigh In

Several analysts recently commented on NWSA shares. Weiss Ratings upgraded News from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Wall Street Zen lowered shares of News from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup dropped their target price on shares of News from $40.00 to $39.00 and set a “buy” rating for the company in a report on Monday, February 9th. Morgan Stanley set a $32.40 price target on News in a research report on Friday, February 6th. Finally, Zacks Research upgraded News from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, News currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.02.

View Our Latest Analysis on NWSA

Institutional Trading of News

Several institutional investors and hedge funds have recently bought and sold shares of NWSA. Pacer Advisors Inc. grew its holdings in shares of News by 46.6% during the fourth quarter. Pacer Advisors Inc. now owns 62,306 shares of the company’s stock worth $1,627,000 after buying an additional 19,810 shares during the last quarter. Invesco Ltd. grew its position in News by 9.6% in the 4th quarter. Invesco Ltd. now owns 8,445,993 shares of the company’s stock valued at $220,609,000 after buying an additional 739,654 shares during the last quarter. Corient Private Wealth LLC increased its stake in News by 117.0% in the 4th quarter. Corient Private Wealth LLC now owns 128,599 shares of the company’s stock valued at $3,359,000 after buying an additional 69,339 shares during the period. Vident Advisory LLC raised its position in News by 10.6% during the 4th quarter. Vident Advisory LLC now owns 36,632 shares of the company’s stock worth $957,000 after buying an additional 3,500 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of News by 579.8% in the 4th quarter. XTX Topco Ltd now owns 310,109 shares of the company’s stock worth $8,100,000 after acquiring an additional 264,491 shares during the period. Hedge funds and other institutional investors own 66.97% of the company’s stock.

About News

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News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.

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