News Co. (NASDAQ:NWSA – Free Report) – Stock analysts at Zacks Research dropped their Q3 2024 EPS estimates for News in a research report issued on Wednesday, February 28th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.17. The consensus estimate for News’ current full-year earnings is $0.72 per share. Zacks Research also issued estimates for News’ Q4 2024 earnings at $0.18 EPS, Q1 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.29 EPS, Q1 2026 earnings at $0.25 EPS, Q2 2026 earnings at $0.28 EPS and FY2026 earnings at $1.13 EPS.
News (NASDAQ:NWSA – Get Free Report) last released its earnings results on Wednesday, February 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. News had a net margin of 2.29% and a return on equity of 4.14%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis.
Read Our Latest Stock Report on News
News Price Performance
NASDAQ:NWSA opened at $26.88 on Thursday. News has a 1-year low of $15.57 and a 1-year high of $28.00. The company has a current ratio of 1.44, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $24.89 and a 200 day simple moving average of $22.46. The stock has a market capitalization of $15.35 billion, a PE ratio of 67.20 and a beta of 1.33.
Institutional Trading of News
Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in News in the fourth quarter valued at approximately $139,956,000. Envestnet Asset Management Inc. lifted its stake in News by 1,188.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,021,165 shares of the company’s stock valued at $5,975,000 after buying an additional 2,786,718 shares during the period. Sessa Capital IM L.P. acquired a new position in News in the fourth quarter valued at approximately $42,098,000. Goldman Sachs Group Inc. lifted its stake in News by 35.6% in the first quarter. Goldman Sachs Group Inc. now owns 7,262,494 shares of the company’s stock valued at $160,865,000 after buying an additional 1,908,096 shares during the period. Finally, Junto Capital Management LP acquired a new position in News in the fourth quarter valued at approximately $43,928,000. 65.55% of the stock is currently owned by institutional investors.
News Announces Dividend
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 13th will be issued a $0.10 dividend. This represents a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 12th. News’s payout ratio is presently 50.00%.
About News
News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.
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