The New York Times Company (NYSE:NYT) Receives $45.67 Average PT from Analysts

The New York Times Company (NYSE:NYT) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $45.67.

Several brokerages have recently weighed in on NYT. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, March 4th. Finally, Citigroup began coverage on shares of New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock.

Insider Buying and Selling

In related news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. Insiders have sold 23,557 shares of company stock valued at $1,029,968 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of New York Times by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after buying an additional 80,075 shares during the last quarter. Franklin Resources Inc. boosted its stake in New York Times by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after acquiring an additional 406,958 shares in the last quarter. Norges Bank purchased a new position in New York Times in the fourth quarter worth $89,754,000. Charles Schwab Investment Management Inc. increased its position in shares of New York Times by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock worth $88,227,000 after purchasing an additional 31,213 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of New York Times by 3.2% during the 3rd quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock valued at $60,921,000 after purchasing an additional 45,677 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.1 %

NYT stock opened at $43.25 on Tuesday. New York Times has a 52 week low of $35.06 and a 52 week high of $49.87. The company has a fifty day simple moving average of $43.28 and a two-hundred day simple moving average of $44.73. The firm has a market capitalization of $7.10 billion, a P/E ratio of 31.12 and a beta of 1.01.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business had revenue of $676.20 million during the quarter, compared to analyst estimates of $680.02 million. During the same quarter last year, the business earned $0.65 earnings per share. New York Times’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that New York Times will post 1.64 EPS for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Monday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio (DPR) is currently 37.41%.

About New York Times

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.