News Corp. (NWSA) Sees Strong Trading Volume
News Corp. (NASDAQ:NWSA) saw unusually-strong trading volume on Tuesday . Approximately 3,723,426 shares were traded during mid-day trading, an increase of 49% from the previous session’s volume of 2,497,602 shares.The stock last traded at $13.20 and had previously closed at $12.84.
Several equities analysts have commented on NWSA shares. Zacks Investment Research raised shares of News Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 11th. Jefferies Group reissued a “buy” rating and issued a $18.00 price target on shares of News Corp. in a research report on Friday, May 6th.
The stock has a market cap of $7.77 billion and a price-to-earnings ratio of 43.951. The firm’s 50 day moving average price is $12.17 and its 200 day moving average price is $11.98.
News Corp. (NASDAQ:NWSA) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.03. During the same period in the previous year, the company posted $0.07 earnings per share. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.06 billion. News Corp.’s revenue was up 5.1% on a year-over-year basis. Equities research analysts anticipate that News Corp. will post $0.50 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of NWSA. Advisors Asset Management Inc. raised its position in News Corp. by 6.6% in the fourth quarter. Advisors Asset Management Inc. now owns 75,035 shares of the company’s stock worth $1,002,000 after buying an additional 4,677 shares in the last quarter. Nationwide Fund Advisors raised its position in News Corp. by 1.6% in the fourth quarter. Nationwide Fund Advisors now owns 114,393 shares of the company’s stock worth $1,528,000 after buying an additional 1,749 shares in the last quarter. Principal Financial Group Inc. raised its position in News Corp. by 4.7% in the fourth quarter. Principal Financial Group Inc. now owns 549,902 shares of the company’s stock worth $7,346,000 after buying an additional 24,540 shares in the last quarter. Bank of Montreal Can raised its position in News Corp. by 27.2% in the fourth quarter. Bank of Montreal Can now owns 550,221 shares of the company’s stock worth $7,350,000 after buying an additional 117,705 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in News Corp. by 1.0% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 595,004 shares of the company’s stock worth $8,044,000 after buying an additional 5,816 shares in the last quarter.
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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