Analysts Set The New York Times Company (NYSE:NYT) Target Price at $54.83

The New York Times Company (NYSE:NYT) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com 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.

NYT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th.

New York Times Stock Performance

Shares of NYT opened at $55.18 on Wednesday. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.78 and a beta of 1.00. New York Times has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a 50 day moving average price of $54.80 and a 200-day moving average price of $53.56.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same period in the prior year, the business posted $0.37 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that New York Times will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is presently 30.77%.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently modified their holdings of NYT. UMB Bank n.a. grew its position in shares of New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the period. GAMMA Investing LLC grew its position in shares of New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares during the period. Signaturefd LLC grew its position in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the period. Blue Trust Inc. grew its position in shares of 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 buying an additional 1,800 shares during the period. Finally, Paladin Wealth LLC purchased a new stake in shares of New York Times in the 3rd quarter worth about $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.