Jefferies Group Weighs in on News Corp.’s Q1 2017 Earnings (NWSA)
News Corp. (NASDAQ:NWSA) – Research analysts at Jefferies Group decreased their Q1 2017 earnings estimates for News Corp. in a research report issued on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will post earnings of ($0.01) per share for the quarter, down from their prior forecast of $0.02. Jefferies Group also issued estimates for News Corp.’s Q2 2017 earnings at $0.19 EPS, Q4 2017 earnings at $0.10 EPS, FY2017 earnings at $0.32 EPS and FY2018 earnings at $0.37 EPS.
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 the Thomson Reuters’ consensus estimate of $0.13 by $0.03. News Corp. had a net margin of 2.16% and a return on equity of 1.95%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the business posted $0.07 EPS. The business’s revenue for the quarter was up 5.1% on a year-over-year basis.
NWSA has been the subject of several other reports. TheStreet raised News Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 15th. Zacks Investment Research cut News Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Morgan Stanley reissued a “hold” rating on shares of News Corp. in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. News Corp. has a consensus rating of “Hold” and a consensus target price of $17.13.
News Corp. (NASDAQ:NWSA) traded down 2.37% during trading on Tuesday, hitting $13.59. 893,483 shares of the stock traded hands. The stock has a market cap of $7.88 billion, a P/E ratio of 44.56 and a beta of 2.01. News Corp. has a 52 week low of $10.21 and a 52 week high of $15.68. The firm’s 50-day moving average is $13.93 and its 200 day moving average is $12.70.
The firm also recently declared a dividend, which will be paid on Wednesday, October 19th. Investors of record on Wednesday, September 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s dividend payout ratio is 66.67%.
In related news, CFO Bedi Ajay Singh sold 29,857 shares of News Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $14.39, for a total value of $429,642.23. Following the completion of the transaction, the chief financial officer now directly owns 33,667 shares of the company’s stock, valued at $484,468.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.88% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. boosted its position in News Corp. by 667.9% in the first quarter. Meeder Asset Management Inc. now owns 95,138 shares of the company’s stock worth $1,215,000 after buying an additional 82,749 shares in the last quarter. State Street Corp boosted its position in News Corp. by 0.5% in the first quarter. State Street Corp now owns 16,030,382 shares of the company’s stock worth $204,712,000 after buying an additional 82,125 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in News Corp. during the first quarter worth about $502,000. Canada Pension Plan Investment Board boosted its position in News Corp. by 9.3% in the first quarter. Canada Pension Plan Investment Board now owns 322,700 shares of the company’s stock worth $4,121,000 after buying an additional 27,400 shares in the last quarter. Finally, Credit Agricole S A boosted its position in News Corp. by 19.8% in the first quarter. Credit Agricole S A now owns 65,350 shares of the company’s stock worth $835,000 after buying an additional 10,791 shares in the last quarter. 95.59% of the stock is owned by institutional investors and hedge funds.
News Corp. 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.
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