News (NASDAQ:NWSA) issued its earnings results on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04, Briefing.com reports. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.39 billion. News had a return on equity of 2.59% and a net margin of 1.54%. News’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 earnings per share.
NWSA stock traded down $0.42 during midday trading on Friday, hitting $12.90. The company had a trading volume of 6,777,400 shares, compared to its average volume of 2,713,078. News has a 52 week low of $10.65 and a 52 week high of $14.65. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 28.04 and a beta of 1.50. The stock’s 50 day moving average price is $13.69 and its 200 day moving average price is $13.12. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10.
Several brokerages have issued reports on NWSA. JPMorgan Chase & Co. lowered News from a “neutral” rating to an “underweight” rating in a research note on Thursday, July 18th. BidaskClub lowered News from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Credit Suisse Group raised News from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $13.70 to $15.30 in a research note on Sunday, August 11th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.15.
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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