News (NASDAQ:NWSA) Posts Earnings Results, Beats Estimates By $0.02 EPS

News (NASDAQ:NWSA) announced its quarterly earnings data on Wednesday. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02, Zacks reports. News had a net margin of 6.35% and a return on equity of 7.09%. News’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 earnings per share.

News Stock Up 3.7%

NASDAQ:NWSA traded up $1.10 during mid-day trading on Wednesday, hitting $30.56. The company had a trading volume of 6,285,724 shares, compared to its average volume of 3,321,447. The firm has a market capitalization of $16.53 billion, a price-to-earnings ratio of 29.67 and a beta of 1.01. The company has a current ratio of 1.62, a quick ratio of 1.51 and a debt-to-equity ratio of 0.22. News has a 1 year low of $22.20 and a 1 year high of $31.66. The business has a fifty day simple moving average of $29.75 and a 200-day simple moving average of $26.95.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NWSA. Wall Street Zen downgraded shares of News from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Raymond James Financial began coverage on shares of News in a research note on Monday, October 19th. They issued an “outperform” rating and a $35.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Weiss Ratings upgraded News from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 12th. Finally, Zacks Research lowered News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.