Zacks: Brokerages Expect News Corporation (NWSA) Will Announce Quarterly Sales of $1.98 Billion

Analysts predict that News Corporation (NASDAQ:NWSA) will post sales of $1.98 billion for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for News Corporation’s earnings. The highest sales estimate is $1.99 billion and the lowest is $1.97 billion. News Corporation reported sales of $1.97 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.5%. The firm is expected to issue its next earnings report on Monday, November 6th.

On average, analysts expect that News Corporation will report full-year sales of $1.98 billion for the current financial year, with estimates ranging from $7.85 billion to $8.19 billion. For the next year, analysts expect that the firm will report sales of $7.79 billion per share, with estimates ranging from $6.62 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover News Corporation.

News Corporation (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business earned $0.10 earnings per share. News Corporation’s revenue was down 6.6% compared to the same quarter last year.

A number of equities analysts have weighed in on the company. Rosenblatt Securities assumed coverage on News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price target for the company. Zacks Investment Research upgraded News Corporation from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research note on Tuesday, October 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price on shares of News Corporation in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.17.

News Corporation (NASDAQ:NWSA) traded down 0.44% during midday trading on Friday, reaching $13.62. 1,285,096 shares of the company traded hands. The company’s 50-day moving average price is $13.28 and its 200 day moving average price is $13.31. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.49. The firm’s market capitalization is $7.93 billion.

The firm also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.10 per share. This represents a dividend yield of 1.49%. The ex-dividend date is Tuesday, September 12th. News Corporation’s dividend payout ratio (DPR) is -15.63%.

TRADEMARK VIOLATION NOTICE: This report was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/17/zacks-brokerages-expect-news-corporation-nwsa-will-announce-quarterly-sales-of-1-98-billion.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in shares of News Corporation by 0.3% during the second quarter. Riverhead Capital Management LLC now owns 15,319 shares of the company’s stock valued at $210,000 after purchasing an additional 46 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of News Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,394 shares of the company’s stock valued at $389,000 after purchasing an additional 81 shares during the period. ING Groep NV increased its holdings in shares of News Corporation by 0.5% during the second quarter. ING Groep NV now owns 21,062 shares of the company’s stock valued at $289,000 after purchasing an additional 102 shares during the period. CIBC Asset Management Inc increased its holdings in shares of News Corporation by 0.3% during the second quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after purchasing an additional 133 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in News Corporation by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the company’s stock valued at $325,000 after buying an additional 200 shares in the last quarter. 60.60% of the stock is currently owned by institutional investors.

About News Corporation

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.

Get a free copy of the Zacks research report on News Corporation

On average, analysts expect that News Corporation will report full-year sales of $1.98 billion for the current financial year, with estimates ranging from $7.85 billion to $8.19 billion. For the next year, analysts expect that the firm will report sales of $7.79 billion per share, with estimates ranging from $6.62 billion to $8.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover News Corporation.

News Corporation (NASDAQ:NWSA) last released its quarterly earnings data on Thursday, August 10th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.02. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business earned $0.10 earnings per share. News Corporation’s revenue was down 6.6% compared to the same quarter last year.

A number of equities analysts have weighed in on the company. Rosenblatt Securities assumed coverage on News Corporation in a report on Friday, July 14th. They issued a “buy” rating and a $17.00 price target for the company. Zacks Investment Research upgraded News Corporation from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research note on Tuesday, October 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $17.00 target price on shares of News Corporation in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.17.

News Corporation (NASDAQ:NWSA) traded down 0.44% during midday trading on Friday, reaching $13.62. 1,285,096 shares of the company traded hands. The company’s 50-day moving average price is $13.28 and its 200 day moving average price is $13.31. News Corporation has a 12 month low of $10.99 and a 12 month high of $14.49. The firm’s market capitalization is $7.93 billion.

The firm also recently declared a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.10 per share. This represents a dividend yield of 1.49%. The ex-dividend date is Tuesday, September 12th. News Corporation’s dividend payout ratio (DPR) is -15.63%.

TRADEMARK VIOLATION NOTICE: This report was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://ledgergazette.com/2017/10/17/zacks-brokerages-expect-news-corporation-nwsa-will-announce-quarterly-sales-of-1-98-billion.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in shares of News Corporation by 0.3% during the second quarter. Riverhead Capital Management LLC now owns 15,319 shares of the company’s stock valued at $210,000 after purchasing an additional 46 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of News Corporation by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,394 shares of the company’s stock valued at $389,000 after purchasing an additional 81 shares during the period. ING Groep NV increased its holdings in shares of News Corporation by 0.5% during the second quarter. ING Groep NV now owns 21,062 shares of the company’s stock valued at $289,000 after purchasing an additional 102 shares during the period. CIBC Asset Management Inc increased its holdings in shares of News Corporation by 0.3% during the second quarter. CIBC Asset Management Inc now owns 43,630 shares of the company’s stock valued at $598,000 after purchasing an additional 133 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in News Corporation by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 23,700 shares of the company’s stock valued at $325,000 after buying an additional 200 shares in the last quarter. 60.60% of the stock is currently owned by institutional investors.

About News Corporation

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.

Get a free copy of the Zacks research report on News Corporation (NWSA)

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Earnings History and Estimates for News Corporation (NASDAQ:NWSA)

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