The New York Times Company (NYSE:NYT) Receives Average Recommendation of “Moderate Buy” from Analysts

The New York Times Company (NYSE:NYT) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $54.83.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th.

Institutional Trading of New York Times

Several institutional investors have recently modified their holdings of the stock. UMB Bank n.a. grew its position in shares of New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the last quarter. Signaturefd LLC boosted its stake in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after acquiring an additional 432 shares in the last quarter. GAMMA Investing LLC boosted its stake in New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after acquiring an additional 698 shares in the last quarter. Paladin Wealth LLC purchased a new position in shares of New York Times during the third quarter worth about $172,000. Finally, Empower Advisory Group LLC acquired a new stake in shares of New York Times during the third quarter worth about $205,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $52.89 on Friday. New York Times has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The company has a 50 day moving average price of $54.21 and a 200 day moving average price of $53.91. The stock has a market capitalization of $8.67 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. On average, research analysts forecast that New York Times will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Friday, January 10th will be paid a $0.13 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.52 annualized dividend and a yield of 0.98%. New York Times’s dividend payout ratio is currently 30.77%.

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.