Brokerages Set The New York Times Company (NYSE:NYT) Target Price at $56.00

Shares of The New York Times Company (NYSE:NYT) have been assigned an average recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $56.00.

Several research firms have commented on NYT. Morgan Stanley lowered 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. Guggenheim raised their target price on New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th.

New York Times Stock Performance

New York Times stock opened at $53.61 on Friday. The business’s 50-day simple moving average is $49.38 and its two-hundred day simple moving average is $51.61. The company has a market cap of $8.75 billion, a PE ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.16. New York Times has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The company had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same quarter in the prior year, the company earned $0.31 EPS. New York Times’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that New York Times will post 2.08 EPS for the current fiscal year.

Institutional Trading of New York Times

Several institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its position in shares of New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares in the last quarter. Clark & Stuart Inc purchased a new position in New York Times during the fourth quarter valued at $8,490,000. Park Avenue Securities LLC grew its position in shares of New York Times by 236.0% in the fourth quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after purchasing an additional 9,823 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of New York Times during the fourth quarter worth about $1,200,000. Finally, Figure 8 Investment Strategies LLC acquired a new position in shares of New York Times during the 4th quarter worth about $492,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.