Wall Street brokerages expect News Corporation (NASDAQ:NWSA) to report sales of $2.11 billion for the current quarter, according to Zacks. Three analysts have made estimates for News Corporation’s earnings. The highest sales estimate is $2.13 billion and the lowest is $2.09 billion. News Corporation posted sales of $2.23 billion during the same quarter last year, which would indicate a negative year over year growth rate of 5.4%. The company is expected to announce its next quarterly earnings results after the market closes on Thursday, August 10th.
On average, analysts expect that News Corporation will report full-year sales of $2.11 billion for the current financial year, with estimates ranging from $8.05 billion to $8.19 billion. For the next financial year, analysts forecast that the company will report sales of $8.08 billion per share, with estimates ranging from $7.85 billion to $8.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow News Corporation.
News Corporation (NASDAQ:NWSA) last released its earnings results on Tuesday, May 9th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.85 billion. News Corporation had a positive return on equity of 1.77% and a negative net margin of 2.64%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share.
Several equities research analysts have weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $17.00 price target on shares of News Corporation in a research report on Sunday. Rosenblatt Securities assumed coverage on shares of News Corporation in a research report on Friday, July 14th. They set a “buy” rating and a $17.00 price target for the company. Finally, Zacks Investment Research cut shares of News Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $15.20.
A number of hedge funds and other institutional investors have recently modified their holdings of NWSA. Wealth Enhancement Advisory Services LLC raised its position in shares of News Corporation by 40.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,057 shares of the company’s stock valued at $1,573,000 after buying an additional 35,260 shares during the period. Teachers Advisors LLC raised its position in shares of News Corporation by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 473,553 shares of the company’s stock valued at $5,427,000 after buying an additional 28,211 shares during the period. CMT Capital Markets Trading GmbH bought a new position in shares of News Corporation during the first quarter valued at approximately $180,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of News Corporation by 65.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 17,450 shares of the company’s stock valued at $227,000 after buying an additional 6,900 shares during the period. Finally, DnB Asset Management AS raised its position in shares of News Corporation by 26.7% in the first quarter. DnB Asset Management AS now owns 26,087 shares of the company’s stock valued at $339,000 after buying an additional 5,500 shares during the period. Institutional investors and hedge funds own 92.72% of the company’s stock.
News Corporation (NASDAQ NWSA) opened at 14.39 on Monday. News Corporation has a 1-year low of $10.99 and a 1-year high of $14.68. The company has a 50-day moving average price of $13.68 and a 200 day moving average price of $12.96. The firm’s market capitalization is $8.37 billion.
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About News Corporation
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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