News (NWSA) Projected to Release Quarterly Earnings on Wednesday

News (NASDAQ:NWSA) is expected to be releasing its results after the market closes on Wednesday, August 5th. Analysts expect the company to post earnings of $0.21 per share and revenue of $2.2457 billion for the quarter.

News (NASDAQ:NWSA) last posted its earnings results on Thursday, May 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.11 billion. News had a return on equity of 6.12% and a net margin of 12.92%.The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, analysts expect News to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

News Stock Performance

Shares of NWSA opened at $28.18 on Wednesday. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 14.02 and a beta of 0.89. News has a 52-week low of $22.20 and a 52-week high of $31.61. The company has a quick ratio of 1.59, a current ratio of 1.70 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $26.51 and a 200 day moving average price of $25.58.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NWSA. Morgan Stanley restated an “overweight” rating and set a $34.00 price objective on shares of News in a research report on Sunday, May 10th. Wall Street Zen raised shares of News from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of News from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Citigroup reduced their price target on shares of News from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of News from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $37.14.

Institutional Investors Weigh In On News

Several large investors have recently modified their holdings of NWSA. AQR Capital Management LLC grew its position in shares of News by 488.0% during the second quarter. AQR Capital Management LLC now owns 8,124,507 shares of the company’s stock worth $241,054,000 after acquiring an additional 6,742,836 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of News by 2,348.9% in the 4th quarter. Bank of Montreal Can now owns 5,664,644 shares of the company’s stock valued at $147,961,000 after acquiring an additional 5,433,332 shares during the period. State Street Corp raised its position in News by 16.5% in the 3rd quarter. State Street Corp now owns 31,356,593 shares of the company’s stock valued at $965,673,000 after purchasing an additional 4,448,929 shares during the last quarter. Invesco Ltd. boosted its stake in News by 46.6% during the 3rd quarter. Invesco Ltd. now owns 7,706,339 shares of the company’s stock worth $236,662,000 after purchasing an additional 2,449,552 shares during the period. Finally, Millennium Management LLC boosted its stake in News by 90.8% during the 4th quarter. Millennium Management LLC now owns 2,859,613 shares of the company’s stock worth $74,693,000 after purchasing an additional 1,360,848 shares during the period. 66.97% of the stock is owned by institutional investors and hedge funds.

About News

News Corporation (NASDAQ: NWSA) is a global diversified media and information services company headquartered in New York City. It operates through two principal segments: News and Information Services, and Digital Real Estate Services. The company’s news and information division oversees a portfolio of leading newspapers, magazines and digital platforms, offering content across print and online channels. Its properties include Dow Jones, publisher of The Wall Street Journal and Barron’s, News UK titles such as The Times and The Sun, as well as News Corp Australia mastheads.

In addition to its journalism assets, News Corp is a significant player in book publishing through HarperCollins, one of the world’s largest consumer publishers.