News (NASDAQ:NWSA) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

News (NASDAQ:NWSA) issued its earnings results on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14, Zacks reports. News had a return on equity of 6.12% and a net margin of 12.92%.The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share.

News Stock Performance

Shares of NWSA stock traded up $0.47 during trading hours on Wednesday, reaching $29.06. The company had a trading volume of 7,319,772 shares, compared to its average volume of 3,289,739. News has a one year low of $22.20 and a one year high of $31.61. The business has a fifty day moving average price of $26.78 and a 200-day moving average price of $25.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 1.70. The firm has a market cap of $15.91 billion, a PE ratio of 14.46 and a beta of 0.88.

Institutional Trading of News

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sivia Capital Partners LLC purchased a new position in shares of News in the 2nd quarter worth approximately $545,000. Sciencast Management LP lifted its position in shares of News by 268.4% during the fourth quarter. Sciencast Management LP now owns 97,888 shares of the company’s stock valued at $2,557,000 after buying an additional 71,318 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in News by 46.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,613 shares of the company’s stock valued at $1,646,000 after buying an additional 16,972 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of News by 7.2% in the 4th quarter. Neuberger Berman Group LLC now owns 48,921 shares of the company’s stock valued at $1,278,000 after acquiring an additional 3,276 shares during the period. Finally, GAM Holding AG purchased a new stake in shares of News in the 4th quarter valued at $522,000. 66.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings upgraded News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Citigroup lowered their target price on News from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley restated an “overweight” rating and issued a $34.00 price objective on shares of News in a research note on Sunday, May 10th. Zacks Research raised News from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $37.14.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.