News (NWSA) Shares Up 5.3% Following Strong Earnings

News Corp (NASDAQ:NWSA) shares shot up 5.3% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $14.14 and last traded at $14.14. 9,426,132 shares traded hands during mid-day trading, an increase of 249% from the average session volume of 2,697,402 shares. The stock had previously closed at $13.43.

The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. News had a negative net margin of 16.78% and a positive return on equity of 2.41%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business’s revenue was up 22.6% on a year-over-year basis.

Several research firms have commented on NWSA. Zacks Investment Research raised shares of News from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine downgraded shares of News from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Morgan Stanley downgraded shares of News from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $17.00 to $12.50 in a report on Monday, August 20th. Goldman Sachs Group raised shares of News from a “neutral” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, UBS Group raised shares of News from a “sell” rating to a “neutral” rating in a report on Wednesday, August 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.50.

Large investors have recently made changes to their positions in the stock. Dupont Capital Management Corp lifted its holdings in shares of News by 74.0% in the 2nd quarter. Dupont Capital Management Corp now owns 7,984 shares of the company’s stock valued at $124,000 after acquiring an additional 3,396 shares during the last quarter. Cadence Capital Management LLC bought a new position in shares of News in the 3rd quarter valued at about $138,000. Greenleaf Trust bought a new position in shares of News in the 2nd quarter valued at about $156,000. Signition LP bought a new position in shares of News in the 3rd quarter valued at about $160,000. Finally, Parametrica Management Ltd bought a new position in shares of News in the 3rd quarter valued at about $184,000. 60.49% of the stock is owned by hedge funds and other institutional investors.

The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.14. The firm has a market cap of $7.74 billion, a P/E ratio of 32.14, a PEG ratio of 5.10 and a beta of 1.61.

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About News (NASDAQ:NWSA)

News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates in five segments: News and Information Services, Book Publishing, Digital Real Estate Services, Subscription Video Services, and Other. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, and DJX through various media channels, such as newspapers, newswires, Websites, mobile device applications, tablets and e-book readers, newsletters, magazines, proprietary databases, live journalism, video, and podcasts.

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