New York Times (NYT) to Release Quarterly Earnings on Wednesday

New York Times (NYSE:NYT) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, analysts expect New York Times to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

New York Times Trading Up 1.3 %

NYT stock opened at $45.04 on Monday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 32.40 and a beta of 1.00. New York Times has a 12 month low of $35.06 and a 12 month high of $49.87. The firm has a 50-day moving average price of $43.31 and a 200-day moving average price of $44.80.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio is 37.41%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NYT. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, March 4th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Finally, Citigroup began coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Insiders Place Their Bets

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 39,312 shares in the company, valued at approximately $1,684,126.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other New York Times news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, 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 can be accessed through the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 23,557 shares of company stock worth $1,029,968. 2.00% of the stock is currently owned by insiders.

New York Times Company Profile

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.