News (NASDAQ:NWSA) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

News (NASDAQ:NWSA) posted its earnings results on Wednesday. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02, Zacks reports. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.27 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS.

News Stock Performance

Shares of News stock traded down $3.65 on Thursday, hitting $26.91. 6,142,508 shares of the company’s stock were exchanged, compared to its average volume of 4,366,326. News has a 1 year low of $22.20 and a 1 year high of $31.66. The company has a 50-day simple moving average of $29.75 and a 200-day simple moving average of $26.95. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.51 and a current ratio of 1.62. The stock has a market capitalization of $14.56 billion, a PE ratio of 26.17 and a beta of 1.01.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NWSA. Wall Street Zen cut shares of News from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. JPMorgan Chase & Co. raised their target price on shares of News from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $35.00 target price on shares of News in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, October 12th. Finally, Zacks Research cut News from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, News has an average rating of “Moderate Buy” and a consensus target price of $37.80.

About News

News Corp is a global media and information-services company whose Class A common stock trades on the Nasdaq under the symbol NWSA. The company operates a portfolio of businesses spanning digital and print publishing, subscription products, professional information, real estate services and book publishing.

Its principal businesses include Dow Jones, which provides financial news, data, research and professional information through publications such as The Wall Street Journal and Barron’s; News Corp Australia and News UK, which operate newspapers and digital news platforms; and HarperCollins Publishers, which publishes fiction, nonfiction, educational and religious titles.