New York Times (NYSE:NYT) Stock Price Expected to Rise, Citigroup Analyst Says

New York Times (NYSE:NYT) had its target price lifted by stock analysts at Citigroup from $64.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 12.60% from the stock’s previous close.

NYT has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Barclays increased their price objective on shares of New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Guggenheim boosted their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average price target of $63.57.

New York Times Price Performance

NYSE NYT opened at $63.94 on Thursday. The business has a fifty day moving average price of $57.76 and a two-hundred day moving average price of $56.48. The stock has a market capitalization of $10.41 billion, a PE ratio of 32.96, a PEG ratio of 1.41 and a beta of 1.14. New York Times has a fifty-two week low of $44.83 and a fifty-two week high of $64.75.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The company had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. During the same quarter last year, the company posted $0.45 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that New York Times will post 2.08 earnings per share for the current year.

Insider Transactions at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of New York Times stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president directly owned 14,470 shares of the company’s stock, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New York Times

A number of hedge funds have recently made changes to their positions in the stock. Employees Retirement System of Texas bought a new stake in New York Times in the second quarter valued at approximately $28,000. Hantz Financial Services Inc. lifted its position in shares of New York Times by 4,591.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 551 shares during the period. True Wealth Design LLC boosted its stake in shares of New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after purchasing an additional 478 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of New York Times by 86.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the company’s stock worth $40,000 after buying an additional 330 shares during the period. Finally, Whittier Trust Co. bought a new position in New York Times during the third quarter worth $42,000. 95.37% of the stock is currently owned by institutional investors.

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.