News (NASDAQ:NWSA) Announces Earnings Results, Beats Expectations By $0.02 EPS

News (NASDAQ:NWSA) released its quarterly earnings results on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02, Zacks reports. News had a net margin of 6.35% and a return on equity of 7.09%. During the same quarter in the prior year, the business earned $0.22 EPS. The company’s revenue was up 6.4% compared to the same quarter last year.

News Price Performance

NASDAQ:NWSA traded up $1.10 during trading hours on Wednesday, hitting $30.56. The company’s stock had a trading volume of 6,285,724 shares, compared to its average volume of 3,321,447. News has a 52-week low of $22.20 and a 52-week high of $31.66. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The business’s 50-day moving average is $29.75 and its two-hundred day moving average is $26.95. The company has a market capitalization of $16.53 billion, a PE ratio of 29.67 and a beta of 1.01.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NWSA. Morgan Stanley restated an “overweight” rating and issued a $35.00 price target on shares of News in a research note on Thursday, August 6th. Raymond James Financial assumed coverage on News in a research report on Monday, October 19th. They set an “outperform” rating and a $35.00 price target on the stock. Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Finally, Wall Street Zen cut News from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.80.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.