News (NASDAQ:NWS) Posts Earnings Results, Beats Expectations By $0.15 EPS

News (NASDAQ:NWS) released its earnings results on Thursday. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15, FiscalAI reports. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.30 billion. News had a return on equity of 5.68% and a net margin of 13.80%.

News Stock Down 2.5%

Shares of NASDAQ NWS traded down $0.70 during mid-day trading on Thursday, hitting $27.39. 3,423,863 shares of the stock traded hands, compared to its average volume of 1,260,064. The stock has a fifty day moving average price of $29.93 and a 200-day moving average price of $31.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.63 and a current ratio of 1.76. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 13.23 and a beta of 0.97. News has a 52 week low of $26.25 and a 52 week high of $35.58.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NWS shares. Zacks Research upgraded News to a “hold” rating in a research report on Tuesday, January 13th. Weiss Ratings downgraded shares of News from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Investors Weigh In On News

Hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its stake in shares of News by 2.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 19,333 shares of the company’s stock valued at $664,000 after purchasing an additional 435 shares in the last quarter. Daiwa Securities Group Inc. increased its position in News by 5.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 10,449 shares of the company’s stock valued at $359,000 after buying an additional 554 shares in the last quarter. Utah Retirement Systems raised its stake in News by 10.0% during the third quarter. Utah Retirement Systems now owns 6,600 shares of the company’s stock valued at $228,000 after buying an additional 600 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of News by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,071 shares of the company’s stock worth $215,000 after acquiring an additional 655 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in shares of News by 9.0% during the third quarter. Coldstream Capital Management Inc. now owns 7,965 shares of the company’s stock valued at $275,000 after acquiring an additional 658 shares in the last quarter. Institutional investors own 14.63% of the company’s stock.

News Company Profile

News Corporation (NASDAQ: NWS) is a global media and information services company engaged in news and digital real estate, book publishing and other media businesses. The company’s operations include print and digital newsbrands, business and financial information services, consumer platforms for property listings, and a major book publishing arm. Through its subsidiaries and brands, News Corp produces news content, market and financial reporting, online real-estate marketplaces and trade and consumer publishing products.

Key areas of activity include news and information, where the company publishes national and regional newspapers and operates business information services; book publishing through a well-known global publisher; and property-related digital businesses that operate online marketplaces for real estate listings.