News Corp. (NWSA) Sees Unusually-High Trading Volume
News Corp. (NASDAQ:NWSA) saw strong trading volume on Tuesday . 3,723,426 shares changed hands 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.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded News Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Jefferies Group restated a “buy” rating and set a $18.00 price target on shares of News Corp. in a research note on Friday, May 6th.
The stock’s market cap is $7.73 billion. The company’s 50-day moving average is $12.12 and its 200 day moving average is $11.97.
News Corp. (NASDAQ:NWSA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.03. During the same quarter in the previous year, the company earned $0.07 earnings per share. The firm earned $2.23 billion during the quarter, compared to analysts’ expectations of $2.06 billion. News Corp.’s revenue was up 5.1% on a year-over-year basis. Equities research analysts forecast that News Corp. will post $0.53 EPS for the current year.
Other institutional investors recently added to or reduced their stakes in the company. 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 during the period. Gulf International Bank UK Ltd raised its position in News Corp. by 1.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 109,622 shares of the company’s stock worth $1,465,000 after buying an additional 1,500 shares during the period. 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 during the period. 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 during the period. Finally, 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 during the period.
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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