News (NWSA) to Announce Quarterly Earnings on Wednesday

Key Points

• News is expected to report quarterly earnings after Wednesday’s market close, with analysts forecasting $0.21 in earnings per share and $2.2457 billion in revenue.
• The company’s previous quarter exceeded expectations, delivering $0.21 EPS versus the $0.16 consensus and $2.19 billion in revenue, up 8.8% year over year.
• Wall Street maintains a generally positive outlook, with the stock carrying an average “Buy” rating and a consensus price target of $37.14 versus its reported $28.18 opening price.

News (NASDAQ:NWSA - Get Free Report) is projected to release its results after the market closes on Wednesday, August 5th. Analysts expect News to announce earnings of $0.21 per share and revenue of $2.2457 billion for the quarter.

News (NASDAQ:NWSA - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.05. News had a return on equity of 6.12% and a net margin of 12.92%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect News to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

News Trading Up 3.3%

NWSA opened at $28.18 on Wednesday. News has a 52 week low of $22.20 and a 52 week high of $31.61. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $26.51 and a 200-day simple moving average of $25.58. The firm has a market cap of $15.43 billion, a P/E ratio of 14.02 and a beta of 0.89.

Wall Street Analysts Forecast Growth

NWSA has been the topic of several research reports. Morgan Stanley reissued an "overweight" rating and set a $34.00 target price on shares of News in a research note on Sunday, May 10th. Weiss Ratings upgraded shares of News from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of News from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Zacks Research raised shares of News from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Finally, Citigroup dropped their price objective on shares of News from $39.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $37.14.

Institutional Investors Weigh In On News

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of News by 488.0% during the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company's stock worth $241,054,000 after buying an additional 6,742,836 shares in the last quarter. Bank of Montreal Can lifted its stake in News by 2,348.9% in the fourth quarter. Bank of Montreal Can now owns 5,664,644 shares of the company's stock worth $147,961,000 after acquiring an additional 5,433,332 shares during the last quarter. State Street Corp grew its holdings in News by 16.5% during the 3rd quarter. State Street Corp now owns 31,356,593 shares of the company's stock worth $965,673,000 after acquiring an additional 4,448,929 shares in the last quarter. Invesco Ltd. grew its holdings in News by 46.6% during the 3rd quarter. Invesco Ltd. now owns 7,706,339 shares of the company's stock worth $236,662,000 after acquiring an additional 2,449,552 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of News by 90.8% in the 4th quarter. Millennium Management LLC now owns 2,859,613 shares of the company's stock valued at $74,693,000 after purchasing an additional 1,360,848 shares during the last quarter. Institutional investors and hedge funds own 66.97% of the company's stock.

About News

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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