The New York Times Company (NYSE:NYT) Declares Quarterly Dividend of $0.18

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Tuesday, February 4th, RTT News reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. This is a 38.5% increase from New York Times’s previous quarterly dividend of $0.13.

New York Times has raised its dividend payment by an average of 22.9% per year over the last three years. New York Times has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.6%.

New York Times Trading Down 0.0 %

NYSE:NYT opened at $48.97 on Friday. The company has a 50-day moving average of $49.93 and a 200-day moving average of $52.71. New York Times has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

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

Analyst Ratings Changes

NYT has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

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.