News Corp (NWSA) was Downgraded by Credit Agricole to ” Outperform”. Earlier the firm had a rating of “Buy ” on the company shares. Credit Agricole advised their investors in a research report released on May 9, 2016.
On the company’s financial health, News Corp reported $0.04 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.04. The company had revenue of $1891.00 million for the quarter, compared to analysts expectations of $1926.19 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.
News Corp opened for trading at $11.83 and hit $12.73 on the upside on Friday, eventually ending the session at $12.7, with a gain of 4.35% or 0.53 points. The heightened volatility saw the trading volume jump to 52,45,354 shares. Company has a market cap of $7,371 M.
News Corporation is a diversified media and information services company. The Company is focused on creating and distributing content to consumers and businesses throughout the world. The Company operates through six segments: News and Information Services; Book Publishing; Digital Real Estate Services; Cable Network Programming; Digital Education and Other. The Company comprises businesses across a range of media including news and information services book publishing digital real estate services cable network programming in Australia digital education and pay-television distribution in Australia that are distributed under brands including the Wall Street Journal Dow Jones the Australian Herald Sun the Sun the Times HarperCollins Publishers FOX SPORTS Australia realestate.com.au realtor.com and Foxtel. The Company also owns around 50% stake in Foxtel the pay-television provider in Australia which is accounted for as an equity investment.