News Corp (NASDAQ:NWSA) posted its earnings results on Tuesday. The company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.85 billion. News Corp had a negative net margin of 4.43% and a positive return on equity of 1.63%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS.
Several equities analysts recently weighed in on NWSA shares. Guggenheim restated a “neutral” rating and set a $13.00 target price on shares of News Corp in a report on Friday, February 10th. Jefferies Group LLC reduced their target price on shares of News Corp to $17.00 in a report on Friday, February 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 price objective on shares of News Corp in a report on Monday, March 6th. Finally, Zacks Investment Research lowered shares of News Corp from a “hold” rating to a “sell” rating in a report on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $14.75.
A number of institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in shares of News Corp during the fourth quarter worth about $348,000. Northern Trust Corp boosted its stake in shares of News Corp by 0.7% in the third quarter. Northern Trust Corp now owns 4,380,741 shares of the company’s stock worth $61,242,000 after buying an additional 28,410 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of News Corp by 302.3% in the third quarter. Nordea Investment Management AB now owns 652,146 shares of the company’s stock worth $9,117,000 after buying an additional 490,050 shares during the last quarter. Dodge & Cox acquired a new stake in shares of News Corp during the fourth quarter worth about $84,719,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of News Corp by 40.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,057 shares of the company’s stock worth $1,573,000 after buying an additional 35,260 shares during the last quarter. 95.71% of the stock is owned by hedge funds and other institutional investors.
About News Corp
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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