News (NASDAQ:NWSA) Announces Earnings Results

News (NASDAQ:NWSA) posted its quarterly earnings results on Thursday. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.07, Zacks reports. News had a net margin of 13.80% and a return on equity of 5.68%.

News Stock Down 1.9%

Shares of NWSA stock traded down $0.48 during trading hours on Thursday, hitting $24.21. 8,193,316 shares of the company were exchanged, compared to its average volume of 3,557,285. The company has a market capitalization of $13.59 billion, a PE ratio of 11.70 and a beta of 0.99. News has a 52 week low of $23.38 and a 52 week high of $31.61. The business has a 50 day moving average of $26.20 and a two-hundred day moving average of $27.49. The company has a current ratio of 1.76, a quick ratio of 1.63 and a debt-to-equity ratio of 0.21.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Guggenheim reduced their target price on News from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. lowered their target price on shares of News from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 25th. Weiss Ratings downgraded News from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Zacks Research raised News from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, News currently has a consensus rating of “Moderate Buy” and an average price target of $37.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in News in the 3rd quarter valued at approximately $31,000. CYBER HORNET ETFs LLC acquired a new stake in shares of News in the second quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in shares of News in the third quarter worth $35,000. Brown Brothers Harriman & Co. boosted its holdings in News by 154.5% during the third quarter. Brown Brothers Harriman & Co. now owns 1,285 shares of the company’s stock worth $39,000 after purchasing an additional 780 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in News by 153.3% in the third quarter. CIBC Private Wealth Group LLC now owns 5,307 shares of the company’s stock valued at $163,000 after purchasing an additional 3,212 shares in the last quarter. 66.97% of the stock is owned by institutional investors and hedge funds.

News Company Profile

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.