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