National Bank of Canada FI Purchases 20,160 Shares of News Corporation $NWS

Key Points

• National Bank of Canada FI increased its stake in News Corporation (NASDAQ:NWS) by 38.5%, owning 72,484 shares valued at approximately $2.2 million.
• News Corporation reported earnings of $0.19 EPS for the last quarter, exceeding analyst expectations of $0.18 EPS, along with a revenue of $2.11 billion.
• The company declared a semi-annual dividend of $0.10 per share, with a dividend yield of 60.0% for stockholders of record as of September 10th.

National Bank of Canada FI raised its holdings in News Corporation (NASDAQ:NWS - Free Report) by 38.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,484 shares of the company's stock after buying an additional 20,160 shares during the quarter. National Bank of Canada FI's holdings in News were worth $2,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in News by 3,546.2% during the first quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock worth $29,000 after acquiring an additional 922 shares in the last quarter. Mufg Securities Americas Inc. acquired a new position in News during the fourth quarter worth $50,000. Canada Post Corp Registered Pension Plan acquired a new position in News during the fourth quarter worth $91,000. Point72 Hong Kong Ltd acquired a new position in News during the fourth quarter worth $96,000. Finally, Asset Management One Co. Ltd. raised its stake in News by 20.3% during the first quarter. Asset Management One Co. Ltd. now owns 3,210 shares of the company's stock worth $97,000 after acquiring an additional 542 shares in the last quarter. Institutional investors own 14.63% of the company's stock.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded News to a "strong sell" rating in a research note on Tuesday, August 12th.

News Price Performance

Shares of NASDAQ:NWS traded up $0.20 during midday trading on Monday, reaching $34.23. The company's stock had a trading volume of 487,210 shares, compared to its average volume of 763,901. News Corporation has a fifty-two week low of $26.25 and a fifty-two week high of $35.58. The company has a market capitalization of $19.34 billion, a P/E ratio of 16.46 and a beta of 1.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.84 and a quick ratio of 1.72. The business's fifty day simple moving average is $33.51 and its 200-day simple moving average is $32.30.

News (NASDAQ:NWS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. News had a return on equity of 5.66% and a net margin of 13.21%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.09 billion. As a group, equities research analysts expect that News Corporation will post 1.03 EPS for the current fiscal year.

News Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 10th. This represents a yield of 60.0%. News's dividend payout ratio (DPR) is currently 9.62%.

About News

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.