News (NWS) Stock Price Up 5.2% After Strong Earnings

News Corp (NASDAQ:NWS)’s share price rose 5.2% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $14.34 and last traded at $14.31. Approximately 763,647 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 553,293 shares. The stock had previously closed at $13.60.

The company reported $0.17 earnings per share (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.

NWS has been the subject of a number of analyst reports. BidaskClub upgraded shares of News from a “strong sell” rating to a “sell” rating in a report on Thursday, August 16th. Goldman Sachs Group upgraded shares of News from a “neutral” rating to a “buy” rating in a report on Tuesday, October 9th.

In other news, CEO Robert J. Thomson bought 72,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was bought at an average cost of $14.13 per share, for a total transaction of $1,017,360.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 39.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of NWS. American International Group Inc. raised its stake in News by 8.5% in the third quarter. American International Group Inc. now owns 44,773 shares of the company’s stock worth $609,000 after buying an additional 3,498 shares in the last quarter. Bank of New York Mellon Corp raised its stake in News by 6.9% in the third quarter. Bank of New York Mellon Corp now owns 941,417 shares of the company’s stock worth $12,803,000 after buying an additional 61,124 shares in the last quarter. Hartford Investment Management Co. raised its stake in News by 33.9% in the third quarter. Hartford Investment Management Co. now owns 17,347 shares of the company’s stock worth $236,000 after buying an additional 4,396 shares in the last quarter. SG Americas Securities LLC raised its stake in News by 326.0% in the third quarter. SG Americas Securities LLC now owns 91,120 shares of the company’s stock worth $1,239,000 after buying an additional 69,728 shares in the last quarter. Finally, KCS Wealth Advisory raised its stake in News by 43.6% in the third quarter. KCS Wealth Advisory now owns 47,575 shares of the company’s stock worth $647,000 after buying an additional 14,453 shares in the last quarter. Institutional investors own 9.42% of the company’s stock.

The company has a market capitalization of $7.85 billion, a PE ratio of 29.93 and a beta of 1.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.22 and a current ratio of 1.33.

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About News (NASDAQ:NWS)

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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