Stocks of News Corporation (NASDAQ:NWSA) traded higher last session on Wall Street, up 0.05% to $18.23.
According to the data, News Corporation (NASDAQ:NWSA) has 8 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $16.90, we find $24.06. Given the previous closing price of $18.22, this indicates a potential upside of 32.05 percent. NWSA stock price is now 5.89% away from the 50-day moving average and 3.54% away from the 200-day moving average. The market capitalization of the company currently stands at $10.58B.
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A total of 2 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $23.30 as their price target over the next twelve months.
In other news, Pitofsky David B, General Counsel sold 23,750 shares of the company’s stock on Mar 03. The stock was sold for $409,165 at an average price of $17.23. Upon completion of the transaction, the General Counsel now directly owns 63,956 shares in the company, valued at $1.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 15, General Counsel Pitofsky David B sold 82,028 shares of the business’s stock. A total of $1,536,417 was realized by selling the stock at an average price of $18.73. This leaves the insider owning 87,706 shares of the company worth $1.6 million. Insiders disposed of 1,438,024 shares of company stock worth roughly $26.22 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NWSA stock. A new stake in News Corporation shares was purchased by DUQUESNE FAMILY OFFICE LLC during the first quarter worth $50,244,000. MASON CAPITAL MANAGEMENT LLC invested $15,106,000 in shares of NWSA during the first quarter. In the first quarter, QUINN OPPORTUNITY PARTNERS LLC acquired a new stake in News Corporation valued at approximately $10,657,000. SAND GROVE CAPITAL MANAGEMENT LLP acquired a new stake in NWSA for approximately $7,565,000. INVENOMIC CAPITAL MANAGEMENT LP purchased a new stake in NWSA valued at around $5,968,000 in the second quarter. In total, there are 634 active investors with 99.10% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $18.22 for News Corporation (NASDAQ: NWSA). During the past 12 months, News Corporation has had a low of $14.87 and a high of $21.69. As of last week, the company has a debt-to-equity ratio of 0.37, a current ratio of 1.30, and a quick ratio of 1.10. The fifty day moving average price for NWSA is $17.26 and a two-hundred day moving average price translates $17.61 for the stock.
The latest earnings results from News Corporation (NASDAQ: NWSA) was released for Mar, 2023. According to the Entertainment Company, earnings per share came in at $0.09, beating analysts’ expectations of $0.05 by 0.04. This compares to $0.18 EPS in the same period last year. The net profit margin was 2.60% and return on equity was 3.30% for NWSA. The company reported revenue of $2.45 billion for the quarter, compared to $2.49 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.81 percent. For the current quarter, analysts expect NWSA to generate $2.5B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/12/2023. Investors who held shares on 03/15/2023 were paid a $0.10 dividend. On an annualized basis, this represents a $0.20 dividend and a 1.10% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, NWSA is presently at 43.50%.
News Corporation(NWSA) Company Profile
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. The company distributes content and data products, including The Wall Street Journal, Barron’s, MarketWatch, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, and OPIS through various media channels, such as newspapers, newswires, websites, mobile apps, newsletters, magazines, proprietary databases, live journalism, video, and podcasts. It also owns and operates daily, Sunday, weekly, and bi-weekly newspapers comprising The Australian, The Weekend Australian, The Daily Telegraph, The Sunday Telegraph, Herald Sun, Sunday Herald Sun, The Courier Mail, The Sunday Mail, The Advertiser, Sunday Mail, The Sun, The Sun on Sunday, The Times, The Sunday Times, and New York Post, as well as digital mastheads and other websites. In addition, the company publishes general fiction, nonfiction, children’s, and religious books; provides sports, entertainment, and news services to pay-TV and streaming subscribers, and other commercial licensees through cable, satellite, and internet distribution; and broadcasts rights to live sporting events. Further, it offers property and property-related advertising and services on its websites and mobile applications; online real estate services; and financial services. The company was founded in 2012 and is headquartered in New York, New York.
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