Zacks: Analysts Expect News Corp (NWSA) Will Announce Earnings of $0.04 Per Share

Brokerages predict that News Corp (NASDAQ:NWSA) will report $0.04 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for News Corp’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.03. News Corp also reported earnings per share of $0.04 in the same quarter last year. The firm is scheduled to announce its next earnings report after the market closes on Tuesday, May 9th.

On average, analysts expect that News Corp will report full-year earnings of $0.36 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.38. For the next year, analysts forecast that the company will post earnings of $0.46 per share, with EPS estimates ranging from $0.44 to $0.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow News Corp.

News Corp (NASDAQ:NWSA) last announced its quarterly earnings results on Thursday, February 9th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.11 billion. News Corp had a negative net margin of 4.43% and a positive return on equity of 1.63%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 earnings per share.

Several equities analysts have recently weighed in on NWSA shares. Guggenheim reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of News Corp in a research note on Friday, February 10th. Jefferies Group LLC reduced their price objective on News Corp to $17.00 in a research note on Friday, February 10th. Zacks Investment Research raised News Corp from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of News Corp in a research note on Monday, March 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.75.

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Institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in News Corp by 49.6% in the third quarter. Victory Capital Management Inc. now owns 7,265 shares of the company’s stock valued at $102,000 after buying an additional 2,408 shares during the period. Virtus Investment Advisers Inc. bought a new position in News Corp during the third quarter valued at approximately $137,000. Mn Services Vermogensbeheer B.V. raised its position in News Corp by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the period. Vident Investment Advisory LLC bought a new position in News Corp during the fourth quarter valued at approximately $129,000. Finally, Fox Run Management L.L.C. bought a new position in News Corp during the first quarter valued at approximately $148,000. 95.71% of the stock is currently owned by hedge funds and other institutional investors.

News Corp (NASDAQ:NWSA) traded up 1.16% during midday trading on Monday, hitting $13.04. The stock had a trading volume of 1,498,701 shares. The company’s market cap is $7.58 billion. News Corp has a 12-month low of $10.54 and a 12-month high of $14.68. The company has a 50-day moving average price of $12.63 and a 200-day moving average price of $12.44.

The business also recently declared a semiannual dividend, which was paid on Wednesday, April 19th. Investors of record on Wednesday, March 15th were given a dividend of $0.10 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend was Monday, March 13th. News Corp’s dividend payout ratio (DPR) is presently -31.25%.

News Corp Company Profile

News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.

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