S&P 500 eases slightly from fresh record high after stronger economic growth
News Corp (NASDAQ:NWSA, NASDAQ:NWS), the $16.75 billion media conglomerate currently trading at $29.73, announced updates regarding its ongoing stock repurchase programs in a filing released Wednesday. According to the statement, the company is authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common shares. With a robust financial health score of "Good" and $727 million in free cash flow, the company appears well-positioned to execute this program. InvestingPro analysis suggests the stock is currently fairly valued based on its proprietary Fair Value model.
As part of regulatory requirements, News Corp provides daily disclosure of transactions under its repurchase programs to the Australian Securities Exchange. The company also includes information about these programs in its quarterly and annual reports. Analysts maintain a bullish outlook on the stock, with price targets ranging from $28 to $45 per share. For deeper insights into News Corp’s financial metrics and growth potential, check out the comprehensive Pro Research Report, available exclusively on InvestingPro.
The filing noted that further details were provided to the Australian Securities Exchange and attached as exhibits to the SEC filing. The company stated that certain information included forward-looking statements regarding its intent to repurchase shares from time to time. News Corp clarified that these statements reflect management’s current expectations and are subject to change based on factors such as market price, general market conditions, securities laws, and other considerations.
The company does not undertake any obligation to update forward-looking statements except as required by law or regulation.
This information is based on a press release statement contained in News Corp’s recent SEC filing.
In other recent news, News Corp has reiterated its authorization to repurchase up to $1 billion of its outstanding Class A and Class B common stock. This ongoing stock repurchase program is disclosed in filings with the U.S. Securities and Exchange Commission and requires daily transaction updates to the Australian Securities Exchange. The company also includes details of these repurchase activities in its quarterly and annual reports. News Corp’s filings emphasize that any statements regarding its intent to repurchase shares are forward-looking and may be influenced by various factors, including market conditions and applicable securities laws. These updates were consistently reported across multiple filings, with no new transactions or changes to the authorization specified. The company remains committed to providing transparency in its repurchase activities, adhering to both U.S. and Australian disclosure requirements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.