News (NASDAQ:NWS) Announces Quarterly Earnings Results

News (NASDAQ:NWS) issued its earnings results on Thursday. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.15, FiscalAI reports. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.30 billion. News had a net margin of 13.80% and a return on equity of 5.68%.

News Stock Performance

NWS traded down $0.70 during trading on Thursday, hitting $27.39. The company’s stock had a trading volume of 3,423,863 shares, compared to its average volume of 1,260,064. News has a one year low of $26.25 and a one year high of $35.58. The business’s 50 day simple moving average is $29.93 and its 200-day simple moving average is $31.28. The company has a quick ratio of 1.63, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. The firm has a market cap of $15.38 billion, a PE ratio of 13.23 and a beta of 0.97.

Wall Street Analysts Forecast Growth

Several analysts have commented on NWS shares. Zacks Research upgraded News to a “hold” rating in a research note on Tuesday, January 13th. Weiss Ratings cut News from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, News presently has a consensus rating of “Hold”.

Institutional Trading of News

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new position in shares of News during the 2nd quarter valued at about $30,000. Danske Bank A S bought a new stake in News during the 3rd quarter worth approximately $97,000. EverSource Wealth Advisors LLC lifted its holdings in News by 226.3% during the second quarter. EverSource Wealth Advisors LLC now owns 2,907 shares of the company’s stock valued at $100,000 after purchasing an additional 2,016 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of News in the second quarter worth $178,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of News by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,071 shares of the company’s stock valued at $215,000 after purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.