Morgan Stanley Has Lowered Expectations for New York Times (NYSE:NYT) Stock Price

New York Times (NYSE:NYT) had its price target reduced by stock analysts at Morgan Stanley from $56.00 to $54.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 11.75% from the stock’s previous close.

A number of other equities analysts have also commented on NYT. StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.71.

New York Times Stock Performance

NYSE NYT traded down $0.91 during trading hours on Thursday, hitting $48.32. 278,270 shares of the company traded hands, compared to its average volume of 1,642,831. The business’s 50-day moving average is $53.52 and its 200-day moving average is $54.12. New York Times has a twelve month low of $41.55 and a twelve month high of $58.16. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 28.56, a P/E/G ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. Analysts predict that New York Times will post 1.84 EPS for the current year.

Institutional Investors Weigh In On New York Times

Several institutional investors have recently made changes to their positions in NYT. Coldstream Capital Management Inc. raised its position in shares of New York Times by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after buying an additional 193 shares in the last quarter. Brown Financial Advisors raised its position in New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock valued at $468,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc raised its position in New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock valued at $1,789,000 after purchasing an additional 224 shares in the last quarter. Smartleaf Asset Management LLC raised its position in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after purchasing an additional 247 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in New York Times by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock valued at $265,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.