Nomura Securities Maintains a 'Buy' on News Corp. (NWSA) Q2 Review
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Price: $28.70 -1.58%
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
23 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Nomura Securities maintains a 'Buy' on News Corp. (NASDAQ: NWSA) price target raised $1 to $22.
Analyst, Michael Nathanson, said, "News Corp. adjusted EPS of $0.39 was $0.05 better than our in-line with consensus estimates driven by higher operating profits offset by lower below the line contribution. F2Q results were aided by strong Studio results and lower expenses at Cable Networks, due to lower NBA costs from the strike. During the conference call, the company committed to both the planned $5 billion buyback in FY2012 and the longer run goal of reaching an appropriate level of leverage, which implies further buybacks post the end of the current fiscal year. Further, despite some increased troubles in their Print divisions, News Corp. grew adjusted OI in the quarter and year-to-date by 23%, and the company reiterated guidance of low to mid-teens guidance for the fiscal year. While we are leaving our FY12 EPS unchanged at $1.40, we are reducing adj. EBIT growth to 14.6% Y/Y (from 15.8%)." (FY13 EPS estimate lowered from $1.75 to $1.73)
For an analyst ratings summary and ratings history on News Corp. click here. For more ratings news on News Corp. click here.
Shares of News Corp. closed at $19.62 yesterday.
Analyst, Michael Nathanson, said, "News Corp. adjusted EPS of $0.39 was $0.05 better than our in-line with consensus estimates driven by higher operating profits offset by lower below the line contribution. F2Q results were aided by strong Studio results and lower expenses at Cable Networks, due to lower NBA costs from the strike. During the conference call, the company committed to both the planned $5 billion buyback in FY2012 and the longer run goal of reaching an appropriate level of leverage, which implies further buybacks post the end of the current fiscal year. Further, despite some increased troubles in their Print divisions, News Corp. grew adjusted OI in the quarter and year-to-date by 23%, and the company reiterated guidance of low to mid-teens guidance for the fiscal year. While we are leaving our FY12 EPS unchanged at $1.40, we are reducing adj. EBIT growth to 14.6% Y/Y (from 15.8%)." (FY13 EPS estimate lowered from $1.75 to $1.73)
For an analyst ratings summary and ratings history on News Corp. click here. For more ratings news on News Corp. click here.
Shares of News Corp. closed at $19.62 yesterday.
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