Charles Schwab Investment Management Inc. decreased its position in News Corp (NASDAQ:NWSA) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,835,273 shares of the company’s stock after selling 59,619 shares during the period. Charles Schwab Investment Management Inc. owned 0.48% of News worth $38,248,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Amica Retiree Medical Trust bought a new position in shares of News in the second quarter valued at approximately $33,000. Trexquant Investment LP bought a new position in News during the second quarter valued at about $146,000. Corient Capital Partners LLC purchased a new stake in News during the first quarter worth about $157,000. Atria Investments LLC purchased a new stake in News during the second quarter worth about $221,000. Finally, Amica Mutual Insurance Co. bought a new stake in News in the second quarter worth about $227,000. Hedge funds and other institutional investors own 62.62% of the company’s stock.
A number of research analysts have weighed in on NWSA shares. Credit Suisse Group upgraded shares of News from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $13.70 to $15.30 in a research note on Sunday, August 11th. JPMorgan Chase & Co. downgraded News from a “neutral” rating to an “underweight” rating in a research note on Thursday, July 18th. BidaskClub lowered News from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. Finally, ValuEngine raised News from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $14.15.
Shares of NASDAQ:NWSA opened at $14.51 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.41 billion, a PE ratio of 31.54 and a beta of 1.50. News Corp has a twelve month low of $10.65 and a twelve month high of $14.53. The company has a 50-day moving average price of $13.61 and a two-hundred day moving average price of $12.81.
News (NASDAQ:NWSA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.56 billion. News had a net margin of 1.54% and a return on equity of 2.59%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Analysts anticipate that News Corp will post 0.4 earnings per share for the current fiscal year.
The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Wednesday, September 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 10th. News’s payout ratio is 43.48%.
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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