News Corp to Post Q2 2018 Earnings of $0.17 Per Share, Jefferies Group Forecasts (NWSA)

News Corp (NASDAQ:NWSA) – Research analysts at Jefferies Group dropped their Q2 2018 earnings per share estimates for shares of News in a research note issued on Wednesday. Jefferies Group analyst J. Janedis now forecasts that the company will post earnings of $0.17 per share for the quarter, down from their previous estimate of $0.18. Jefferies Group also issued estimates for News’ Q3 2018 earnings at $0.07 EPS and FY2018 earnings at $0.42 EPS.

News (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. News had a negative net margin of 7.96% and a positive return on equity of 2.27%. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of News from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, January 10th. TheStreet upgraded shares of News from a “c+” rating to a “b-” rating in a research report on Tuesday, December 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.20.

News (NWSA) traded down $0.20 during mid-day trading on Thursday, hitting $17.01. 2,863,900 shares of the company’s stock were exchanged, compared to its average volume of 2,458,658. News has a 12-month low of $11.88 and a 12-month high of $17.29. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $10,026.91, a PE ratio of -15.05, a price-to-earnings-growth ratio of 3.51 and a beta of 2.06.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its position in shares of News by 0.3% during the second quarter. Riverhead Capital Management LLC now owns 15,319 shares of the company’s stock valued at $210,000 after buying an additional 46 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of News by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,394 shares of the company’s stock valued at $389,000 after buying an additional 81 shares during the period. Sentry Investment Management LLC increased its position in shares of News by 1.2% during the second quarter. Sentry Investment Management LLC now owns 25,115 shares of the company’s stock valued at $344,000 after buying an additional 302 shares during the period. State of Tennessee Treasury Department increased its position in shares of News by 0.4% during the second quarter. State of Tennessee Treasury Department now owns 104,530 shares of the company’s stock valued at $1,432,000 after buying an additional 368 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of News by 3.5% during the second quarter. PNC Financial Services Group Inc. now owns 21,395 shares of the company’s stock valued at $292,000 after buying an additional 714 shares during the period. Institutional investors own 60.89% of the company’s stock.

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News Company Profile

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.

Earnings History and Estimates for News (NASDAQ:NWSA)

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