News (NASDAQ:NWSA) announced its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.12, RTT News reports. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.53 billion. News had a positive return on equity of 2.41% and a negative net margin of 16.78%. News’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share.
NWSA traded up $0.16 during trading on Wednesday, hitting $13.43. The company’s stock had a trading volume of 6,277,900 shares, compared to its average volume of 2,666,248. The company has a current ratio of 1.33, a quick ratio of 1.22 and a debt-to-equity ratio of 0.14. News has a twelve month low of $12.23 and a twelve month high of $17.29. The firm has a market cap of $7.68 billion, a P/E ratio of 30.52, a PEG ratio of 4.84 and a beta of 1.61.
The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 17th. Shareholders of record on Wednesday, September 12th were issued a $0.10 dividend. This represents a yield of 1.47%. The ex-dividend date was Tuesday, September 11th. News’s payout ratio is currently 45.45%.
Several research analysts recently weighed in on the company. ValuEngine upgraded News from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research cut News from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Loop Capital upgraded News from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, September 4th. Morgan Stanley cut News from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $17.00 to $12.50 in a research report on Monday, August 20th. Finally, Goldman Sachs Group upgraded News from a “neutral” rating to a “buy” rating in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.50.
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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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