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

The New York Times Company (NYSE:NYT) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.83.

Several research firms have weighed in on NYT. JPMorgan Chase & Co. increased their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Barclays boosted their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th.

Insider Transactions at New York Times

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

Hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of New York Times by 129.4% in the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares in the last quarter. Signaturefd LLC grew its holdings in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. raised its holdings in New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC bought a new position in New York Times in the 3rd quarter valued at approximately $172,000. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

Shares of New York Times stock opened at $56.28 on Friday. The company’s 50 day moving average price is $54.81 and its 200-day moving average price is $52.29. New York Times has a 52-week low of $41.55 and a 52-week high of $57.08. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 33.30 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast that New York Times will post 1.85 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.92%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

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.