The New York Times Company (NYSE:NYT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

The New York Times Company (NYSE:NYT) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $54.71.

Several equities research analysts recently issued reports on NYT shares. Morgan Stanley decreased their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On New York Times

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NYT. Vanguard Group Inc. raised its holdings in New York Times by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock valued at $822,408,000 after acquiring an additional 63,856 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after acquiring an additional 118,479 shares in the last quarter. Darsana Capital Partners LP grew its holdings in shares of New York Times by 15.0% during the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after purchasing an additional 750,000 shares during the last quarter. State Street Corp grew its holdings in New York Times by 0.7% during the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after acquiring an additional 32,905 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of New York Times by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock valued at $210,084,000 after purchasing an additional 102,519 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of New York Times stock opened at $47.99 on Monday. The firm has a fifty day moving average of $52.07 and a two-hundred day moving average of $53.75. The company has a market cap of $7.87 billion, a P/E ratio of 26.96, a PEG ratio of 1.75 and a beta of 1.01. New York Times has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. As a group, equities analysts predict that New York Times will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid a $0.18 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. New York Times’s payout ratio is presently 40.45%.

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.