The New York Times Company (NYSE:NYT) Receives $54.83 Average PT from Brokerages

The New York Times Company (NYSE:NYT) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $54.83.

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

New York Times Price Performance

Shares of NYT stock opened at $52.31 on Friday. New York Times has a one year low of $41.55 and a one year high of $58.16. The company’s fifty day moving average price is $54.26 and its 200-day moving average price is $53.89. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 30.95, a PEG ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share. Equities research analysts expect that New York Times will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. New York Times’s dividend payout ratio is currently 30.77%.

Institutional Trading of New York Times

Several institutional investors have recently modified their holdings of NYT. Signaturefd LLC boosted its holdings in shares of New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of New York Times by 21.4% during the 2nd quarter. Van ECK Associates Corp now owns 67,711 shares of the company’s stock valued at $3,467,000 after acquiring an additional 11,921 shares during the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of New York Times by 14.4% in the second quarter. Confluence Wealth Services Inc. now owns 19,615 shares of the company’s stock valued at $1,004,000 after purchasing an additional 2,469 shares during the period. nVerses Capital LLC increased its position in New York Times by 89.5% during the second quarter. nVerses Capital LLC now owns 7,200 shares of the company’s stock worth $369,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in New York Times by 6.5% during the second quarter. Natixis Advisors LLC now owns 18,846 shares of the company’s stock worth $965,000 after purchasing an additional 1,148 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.