Brokerages predict that News Co. (NASDAQ:NWSA) will report $1.98 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for News’ earnings, with the highest sales estimate coming in at $2.00 billion and the lowest estimate coming in at $1.96 billion. News also posted sales of $1.98 billion during the same quarter last year. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, May 10th.
According to Zacks, analysts expect that News will report full year sales of $8.26 billion for the current fiscal year, with estimates ranging from $8.08 billion to $8.34 billion. For the next year, analysts anticipate that the company will report sales of $8.30 billion per share, with estimates ranging from $8.08 billion to $8.41 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for News.
News (NASDAQ:NWSA) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. News had a positive return on equity of 2.52% and a negative net margin of 5.41%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded News from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Loop Capital assumed coverage on News in a report on Thursday, March 15th. They set a “hold” rating and a $17.00 price target on the stock. Jefferies Group restated a “buy” rating on shares of News in a report on Friday, February 9th. Finally, TheStreet downgraded News from a “b-” rating to a “c+” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.00.
Shares of NASDAQ NWSA opened at $15.90 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. News has a 1-year low of $12.26 and a 1-year high of $17.29. The stock has a market cap of $9,422.87, a price-to-earnings ratio of 44.17, a P/E/G ratio of 2.57 and a beta of 1.93.
The business also recently declared a semiannual dividend, which was paid on Wednesday, April 18th. Shareholders of record on Wednesday, March 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a yield of 1.27%. News’s dividend payout ratio (DPR) is 55.56%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC purchased a new stake in News during the 4th quarter worth about $128,000. Dean Capital Investments Management LLC acquired a new position in shares of News during the 4th quarter worth about $202,000. Virtu Financial LLC acquired a new position in shares of News during the 4th quarter worth about $209,000. Allianz Asset Management GmbH acquired a new position in shares of News during the 4th quarter worth about $239,000. Finally, WINTON GROUP Ltd acquired a new position in shares of News during the 4th quarter worth about $249,000. Institutional investors own 62.35% of the company’s stock.
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News Corporation, a media and information services company, creates and distributes content for consumers and businesses worldwide. It operates through News and Information Services, Book Publishing, Digital Real Estate Services, and Cable Network Programming segments. The company distributes content and data products, including The Wall Street Journal, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, Barron's, MarketWatch, Dow Jones PEVC, and DJX through various media channels, such as newspapers, newswires, Websites, applications for mobile devices, tablets and e-book readers, newsletters, magazines, proprietary databases, conferences, and videos.
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