News Corporation (NASDAQ:NWSA) released its quarterly earnings data on Thursday. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02, Bloomberg Earnings reports. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS.
Shares of News Corporation (NWSA) opened at 13.68 on Friday. The stock’s market capitalization is $7.96 billion. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.68. The company’s 50-day moving average is $13.83 and its 200-day moving average is $13.09.
A number of research firms have recently commented on NWSA. Zacks Investment Research downgraded News Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $17.00 price objective on shares of News Corporation in a report on Sunday, July 30th. Finally, Rosenblatt Securities began coverage on News Corporation in a report on Friday, July 14th. They set a “buy” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. News Corporation has a consensus rating of “Hold” and an average price target of $15.20.
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Several large investors have recently bought and sold shares of NWSA. Vanguard Group Inc. increased its stake in News Corporation by 4.0% in the first quarter. Vanguard Group Inc. now owns 46,736,555 shares of the company’s stock worth $607,574,000 after buying an additional 1,779,315 shares during the period. BlackRock Inc. increased its stake in News Corporation by 1.0% in the second quarter. BlackRock Inc. now owns 25,306,802 shares of the company’s stock worth $346,703,000 after buying an additional 250,842 shares during the period. State Street Corp increased its stake in News Corporation by 6.0% in the first quarter. State Street Corp now owns 17,510,994 shares of the company’s stock worth $227,645,000 after buying an additional 989,997 shares during the period. Artisan Partners Limited Partnership increased its stake in News Corporation by 1.4% in the first quarter. Artisan Partners Limited Partnership now owns 11,816,314 shares of the company’s stock worth $153,612,000 after buying an additional 167,178 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in News Corporation by 20.4% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,363,096 shares of the company’s stock worth $128,274,000 after buying an additional 1,584,753 shares during the period. 93.93% of the stock is owned by institutional investors and hedge funds.
About News Corporation
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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