News Corp Updates Market on Ongoing US$2 Billion Share Repurchase Programs

News Corporation Shs B Chess Depository Interests repr 1 Sh ( (AU:NWS) ) has shared an announcement.

News Corporation has provided a daily update to the ASX on its ongoing share repurchase activity under previously approved buy-back programs covering its Nasdaq-listed Class A and Class B common stock. The company is authorized to repurchase up to US$1 billion of stock under its 2021 repurchase program and an additional US$1 billion under its 2025 repurchase program, with the intention to buy shares in the open market or otherwise, but explicitly excluding any ASX-listed CDIs; this continued capital management initiative is expected to reduce the number of shares outstanding over time and may enhance earnings per share and shareholder returns, while signaling management’s confidence in the company’s valuation.

The most recent analyst rating on (AU:NWS) stock is a Hold with a A$47.00 price target. To see the full list of analyst forecasts on News Corporation Shs B Chess Depository Interests repr 1 Sh stock, see the AU:NWS Stock Forecast page.

More about News Corporation Shs B Chess Depository Interests repr 1 Sh

News Corporation is a global media and information services company operating across news and information publishing, digital real estate services, book publishing and cable network programming. Its primary products include newspapers, digital news platforms and related content businesses, with equity listings in the U.S. and Chess Depository Interests traded on the ASX, including Class A and Class B common stock structures.

Average Trading Volume: 146,842

Technical Sentiment Signal: Hold

Current Market Cap: A$23.23B

Learn more about NWS stock on TipRanks’ Stock Analysis page.