News (NASDAQ:NWSA) Announces Quarterly Earnings Results

News (NASDAQ:NWSA) released its quarterly earnings results on Wednesday. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11, Briefing.com reports. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.45 billion. News had a net margin of 2.29% and a return on equity of 4.14%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS.

News Stock Performance

Shares of NWSA traded up $0.02 during mid-day trading on Thursday, hitting $24.16. 1,467,754 shares of the company’s stock were exchanged, compared to its average volume of 2,769,117. News has a 52 week low of $16.35 and a 52 week high of $28.00. The stock’s 50-day simple moving average is $25.28 and its 200-day simple moving average is $24.07. The firm has a market cap of $13.80 billion, a price-to-earnings ratio of 60.35 and a beta of 1.35. The company has a quick ratio of 1.33, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com raised shares of News from a “hold” rating to a “buy” rating in a report on Friday, January 19th. TheStreet raised shares of News from a “c+” rating to a “b” rating in a report on Wednesday, February 7th. Finally, Macquarie raised shares of News from a “neutral” rating to an “outperform” rating in a report on Thursday, February 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, News has a consensus rating of “Buy” and an average target price of $29.50.

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.