National Bank of Canada FI Raises Stake in News Corporation (NASDAQ:NWSA)

Key Points

• National Bank of Canada FI increased its stake in News Corporation (NASDAQ:NWSA) by 60.9%, acquiring a total of 285,039 shares valued at approximately $7.76 million.
• News Corporation has announced a $0.10 dividend to be paid on October 8th, yielding 70.0%, with a payout ratio of 9.62%.
• The company posted a quarterly earnings per share (EPS) of $0.19, meeting analysts' expectations while reporting revenue of $2.11 billion, slightly above estimates.

National Bank of Canada FI increased its holdings in shares of News Corporation (NASDAQ:NWSA - Free Report) by 60.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,039 shares of the company's stock after purchasing an additional 107,849 shares during the quarter. National Bank of Canada FI owned approximately 0.05% of News worth $7,759,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in News by 3.5% during the first quarter. Signaturefd LLC now owns 11,833 shares of the company's stock worth $322,000 after purchasing an additional 398 shares during the last quarter. Franklin Resources Inc. boosted its holdings in News by 1.9% during the fourth quarter. Franklin Resources Inc. now owns 21,962 shares of the company's stock worth $605,000 after purchasing an additional 418 shares during the last quarter. Boyar Asset Management Inc. boosted its holdings in News by 2.9% during the fourth quarter. Boyar Asset Management Inc. now owns 15,203 shares of the company's stock worth $419,000 after purchasing an additional 422 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its stake in News by 5.0% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 12,103 shares of the company's stock valued at $333,000 after acquiring an additional 574 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in News by 10.4% in the first quarter. Mather Group LLC. now owns 6,465 shares of the company's stock valued at $176,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company's stock.

News Stock Performance

Shares of NWSA traded down $0.33 during trading hours on Friday, hitting $29.47. The company had a trading volume of 7,741,770 shares, compared to its average volume of 3,240,672. News Corporation has a 12 month low of $23.38 and a 12 month high of $30.75. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 14.17 and a beta of 1.23. The business has a fifty day moving average of $29.10 and a 200-day moving average of $28.10. The company has a quick ratio of 1.72, a current ratio of 1.84 and a debt-to-equity ratio of 0.21.

News (NASDAQ:NWSA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.19. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.09 billion. News had a net margin of 13.21% and a return on equity of 5.66%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 earnings per share. Equities analysts anticipate that News Corporation will post 0.94 EPS for the current fiscal year.

News Announces Dividend

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 10th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 10th. This represents a yield of 70.0%. News's dividend payout ratio (DPR) is currently 9.62%.

Analyst Ratings Changes

NWSA has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of News from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Guggenheim reiterated a "buy" rating and issued a $45.00 price target on shares of News in a research note on Thursday, May 15th. Finally, Macquarie reiterated a "neutral" rating and issued a $32.70 price target on shares of News in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.34.

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.