Credit Industriel ET Commercial Buys 70,700 Shares of News Corporation $NWSA

Key Points

• Credit Industriel ET Commercial increased its holdings in News Corporation by 19.5%, buying an additional 70,700 shares, bringing its total to 432,661 shares valued at approximately $12.86 million.
• News Corporation reported a net margin of 13.21% and a revenue of $2.11 billion for the most recent quarter, meeting forecasts with earnings of $0.19 per share.
• The company declared a dividend of $0.10 per share, representing a yield of 70.0%, and maintains a low payout ratio of 9.62%.

Credit Industriel ET Commercial boosted its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 19.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 432,661 shares of the company's stock after buying an additional 70,700 shares during the period. News makes up about 1.1% of Credit Industriel ET Commercial's holdings, making the stock its 11th largest holding. Credit Industriel ET Commercial owned 0.08% of News worth $12,859,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of News by 12,084.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,584 shares of the company's stock valued at $43,000 after acquiring an additional 1,571 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of News in the 1st quarter worth approximately $73,000. CX Institutional purchased a new stake in News during the 1st quarter valued at $76,000. Horizon Investments LLC boosted its stake in News by 7.7% during the 1st quarter. Horizon Investments LLC now owns 5,575 shares of the company's stock valued at $152,000 after purchasing an additional 398 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of News by 10.4% during the 1st quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after buying an additional 610 shares during the period. Institutional investors own 66.97% of the company's stock.

News Stock Performance

News stock opened at $26.09 on Tuesday. The company has a 50 day moving average price of $29.29 and a 200-day moving average price of $28.43. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.72 and a current ratio of 1.84. News Corporation has a fifty-two week low of $23.38 and a fifty-two week high of $31.61. The company has a market capitalization of $14.74 billion, a PE ratio of 12.54 and a beta of 1.17.

News (NASDAQ:NWSA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. News had a net margin of 13.21% and a return on equity of 5.66%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company's revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that News Corporation will post 0.94 earnings per share for the current year.

News Dividend Announcement

The business also recently declared a half year 25 dividend, which was paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 10th were paid a dividend of $0.10 per share. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend was Wednesday, September 10th. News's payout ratio is currently 9.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NWSA. Macquarie reaffirmed a "neutral" rating and issued a $32.70 target price on shares of News in a report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on News from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of News in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, News currently has a consensus rating of "Buy" and an average target price of $38.62.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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