The New York Times Company (NYSE:NYT) Given Average Rating of “Moderate Buy” by Analysts

Shares of The New York Times Company (NYSE:NYT) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.67.

NYT has been the subject of several recent research reports. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th.

Insider Transactions at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently modified their holdings of NYT. Robeco Institutional Asset Management B.V. grew its holdings in New York Times by 5.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 43,819 shares of the company’s stock worth $2,147,000 after acquiring an additional 2,369 shares during the period. Norges Bank acquired a new stake in New York Times during the fourth quarter valued at approximately $89,754,000. Coldstream Capital Management Inc. bought a new stake in New York Times during the fourth quarter worth approximately $217,000. Wells Fargo & Company MN grew its position in New York Times by 7.1% in the fourth quarter. Wells Fargo & Company MN now owns 173,109 shares of the company’s stock worth $8,481,000 after buying an additional 11,516 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of New York Times by 26.5% in the fourth quarter. Corient Private Wealth LLC now owns 50,052 shares of the company’s stock valued at $2,452,000 after buying an additional 10,484 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

New York Times stock opened at $55.16 on Friday. The company has a market cap of $9.06 billion, a PE ratio of 36.77 and a beta of 1.03. New York Times has a 12 month low of $39.73 and a 12 month high of $56.49. The company has a fifty day moving average price of $54.04 and a two-hundred day moving average price of $49.66.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that New York Times will post 1.9 earnings per share for the current year.

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.