News (NASDAQ:NWS) Sets New 12-Month High After Strong Earnings

Shares of News Corporation (NASDAQ:NWS) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $35.58 and last traded at $33.08, with a volume of 179486 shares. The stock had previously closed at $33.55.

The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. News had a return on equity of 5.71% and a net margin of 13.21%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion.

News Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 10th will be paid a $0.10 dividend. This represents a yield of 60.0%. The ex-dividend date of this dividend is Wednesday, September 10th. News’s dividend payout ratio (DPR) is 9.62%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. 59 North Capital Management LP boosted its position in News by 29.4% in the fourth quarter. 59 North Capital Management LP now owns 4,345,606 shares of the company’s stock worth $132,237,000 after purchasing an additional 986,781 shares during the last quarter. Independent Franchise Partners LLP raised its stake in shares of News by 7.0% during the 4th quarter. Independent Franchise Partners LLP now owns 9,649,717 shares of the company’s stock valued at $293,641,000 after purchasing an additional 627,774 shares during the period. Vanguard Group Inc. increased its stake in News by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 6,879,273 shares of the company’s stock worth $208,924,000 after acquiring an additional 344,036 shares during the last quarter. GAMMA Investing LLC increased its stake in News by 4,373.6% in the 1st quarter. GAMMA Investing LLC now owns 348,496 shares of the company’s stock worth $11,475,000 after acquiring an additional 340,706 shares during the last quarter. Finally, Nuveen LLC bought a new position in News in the 1st quarter worth about $8,393,000. Hedge funds and other institutional investors own 14.63% of the company’s stock.

News Price Performance

The business has a fifty day moving average price of $33.33 and a 200-day moving average price of $32.17. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $19.20 billion, a PE ratio of 16.30 and a beta of 1.23.

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 through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.