News Corp and hhgregg Shares in Play With Traders Ahead of Earnings

hhgregg, Inc. (NYSE:HGG) will unveil its latest earnings on Wednesday, February 8, 2012. The average estimate of analysts is for profit of 60 cents per share, a decline of 9.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 78 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. For the year, analysts are projecting net income of $1.10 per share, a decline of 9.8% from last year.

The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported profit of 16 cents per share against a mean estimate of net income of 6 cents per share. In the first quarter, it missed forecasts by 2 cents. On average, analysts predict $825.5 million in revenue this quarter, a rise of 26.3% from the year ago quarter. Analysts are forecasting total revenue of $2.52 billion for the year, a rise of 21.2% from last year’s revenue of $2.08 billion.

Competitors to Watch: Best Buy Co., Inc. (NYSE:BBY), CONN’S, Inc. (NASDAQ:CONN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Systemax (NYSE:SYX), RadioShack Corporation (NYSE:RSH), GameStop Corp. (NYSE:GME) and Funtalk China Hldgs. Ltd. (NASDAQ:FTLK).

News Corp. (NASDAQ:NWSA) will unveil its latest earnings on Wednesday, February 8, 2012. The average estimate of analysts is for net income of 34 cents per share, a rise of 17.2% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month. Analysts are projecting profit to rise by 21.1% versus last year to $1.38.

The company is looking to top estimates for the third straight quarter. Last quarter, it reported profit of 32 cents per share against a mean estimate of net income of 29 cents, and the quarter before, the company exceeded forecasts by 6 cents with profit of 35 cents versus a mean estimate of net income of 29 cents. On average, analysts predict $8.94 billion in revenue this quarter, a rise of 2.1% from the year ago quarter. Analysts are forecasting total revenue of $34.18 billion for the year, a rise of 2.3% from last year’s revenue of $33.4 billion.

Competitors to Watch: News Corporation (NASDAQ:NWS), The Walt Disney Company (NYSE:DIS), Time Warner Inc. (NYSE:TWX), The New York Times Company (NYSE:NYT), Gannett Co., Inc. (NYSE:GCI), CBS Corporation (NYSE:CBS), The E.W. Scripps Company (NYSE:SSP), Journal Communications, Inc. (NYSE:JRN), and Pearson PLC (NYSE:PSO).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com