Morgan Stanley Has Lowered Expectations for New York Times (NYSE:NYT) Stock Price

New York Times (NYSE:NYT) had its target price cut by equities research analysts at Morgan Stanley from $56.00 to $54.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 10.68% from the stock’s current price.

A number of other research analysts have also commented on NYT. StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Stock Performance

Shares of NYT opened at $48.79 on Thursday. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. New York Times has a one year low of $41.55 and a one year high of $58.16. The stock’s fifty day moving average is $53.31 and its 200-day moving average is $54.06.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. Analysts forecast that New York Times will post 1.84 EPS for the current fiscal year.

Institutional Trading of New York Times

Several institutional investors and hedge funds have recently bought and sold shares of NYT. Baillie Gifford & Co. raised its holdings in New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after buying an additional 1,764,078 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of New York Times by 582.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after acquiring an additional 308,277 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of New York Times by 117.5% in the 4th quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock valued at $26,966,000 after acquiring an additional 279,899 shares in the last quarter. Clark & Stuart Inc purchased a new stake in shares of New York Times in the 4th quarter valued at approximately $8,490,000. Finally, Bank of New York Mellon Corp lifted its position in shares of New York Times by 10.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock valued at $87,516,000 after acquiring an additional 159,073 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.