Stocks: Jefferies Group Analysts Decrease Earnings Estimates for News Corp (NWSA)

Stocks: Jefferies Group Analysts Decrease Earnings Estimates for News Corp (NWSA)

News Corp (NASDAQ:NWSA) – Analysts at Jefferies Group lowered their FY2017 earnings per share estimates for News Corp in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings per share of $0.31 for the year, down from their previous estimate of $0.33. Jefferies Group currently has a “Buy” rating and a $17.00 price objective on the stock. Jefferies Group also issued estimates for News Corp’s Q4 2017 earnings at $0.06 EPS, Q2 2018 earnings at $0.24 EPS, Q3 2018 earnings at $0.13 EPS, Q4 2018 earnings at $0.08 EPS, Q1 2019 earnings at $0.03 EPS, Q2 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.15 EPS and FY2019 earnings at $0.54 EPS.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered News Corp from a “hold” rating to a “sell” rating in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $15.00 price objective on shares of News Corp in a report on Monday, March 6th. Finally, Guggenheim reissued a “neutral” rating and issued a $13.00 price objective on shares of News Corp in a report on Friday, February 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $14.75.

News Corp (NASDAQ:NWSA) traded down 0.197% during trading on Thursday, reaching $12.655. 529,106 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $12.71 and its 200-day moving average price is $12.34. The firm’s market cap is $7.37 billion. News Corp has a 12 month low of $10.54 and a 12 month high of $14.68.

A number of large investors have recently made changes to their positions in NWSA. Ameritas Investment Partners Inc. purchased a new stake in shares of News Corp during the first quarter valued at $118,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of News Corp by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,869 shares of the company’s stock valued at $120,000 after buying an additional 413 shares during the period. Vident Investment Advisory LLC purchased a new stake in shares of News Corp during the fourth quarter valued at $129,000. Virtus Investment Advisers Inc. purchased a new stake in shares of News Corp during the third quarter valued at $137,000. Finally, Pacer Advisors Inc. raised its stake in shares of News Corp by 56.6% in the first quarter. Pacer Advisors Inc. now owns 10,662 shares of the company’s stock valued at $139,000 after buying an additional 3,853 shares during the period. 95.71% of the stock is owned by institutional investors.

About News Corp

News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.

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