Analysts expect that News Corporation (NASDAQ:NWSA) will report $1.98 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for News Corporation’s earnings, with the highest sales estimate coming in at $1.99 billion and the lowest estimate coming in at $1.97 billion. News Corporation posted sales of $1.97 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.5%. The company is scheduled to report its next earnings report after the market closes on Thursday, November 9th.
On average, analysts expect that News Corporation will report full-year sales of $1.98 billion for the current financial year, with estimates ranging from $8.02 billion to $8.19 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.84 billion per share, with estimates ranging from $6.62 billion to $8.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow News Corporation.
News Corporation (NASDAQ:NWSA) last posted its earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s revenue was down 6.6% on a year-over-year basis.
NWSA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of News Corporation from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Tuesday, October 10th. Jefferies Group LLC restated a “buy” rating and set a $17.00 price target on shares of News Corporation in a research note on Sunday, July 30th. Finally, Rosenblatt Securities initiated coverage on shares of News Corporation in a research note on Friday, July 14th. They set a “buy” rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $15.40.
A number of hedge funds have recently added to or reduced their stakes in NWSA. Independent Franchise Partners LLP purchased a new position in News Corporation during the second quarter valued at $45,581,000. First Quadrant L P CA purchased a new position in shares of News Corporation in the second quarter worth about $2,262,000. CIBC Asset Management Inc lifted its stake in shares of News Corporation by 0.3% in the second quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock worth $598,000 after buying an additional 133 shares in the last quarter. Dodge & Cox lifted its stake in shares of News Corporation by 10.6% in the second quarter. Dodge & Cox now owns 10,882,034 shares of the company’s stock worth $149,084,000 after buying an additional 1,040,473 shares in the last quarter. Finally, Quinn Opportunity Partners LLC lifted its stake in shares of News Corporation by 15.7% in the second quarter. Quinn Opportunity Partners LLC now owns 393,358 shares of the company’s stock worth $5,389,000 after buying an additional 53,455 shares in the last quarter. Institutional investors own 60.65% of the company’s stock.
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The firm also recently disclosed a semiannual dividend, which was paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th were paid a $0.10 dividend. The ex-dividend date was Tuesday, September 12th. This represents a dividend yield of 1.49%. News Corporation’s payout ratio is currently -15.63%.
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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