The New York Times Company Declares Quarterly Dividend of $0.13 (NYSE:NYT)

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders of record on Thursday, January 9th will be given a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%.

New York Times has increased its dividend by an average of 22.2% per year over the last three years. New York Times has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.6%.

New York Times Stock Performance

Shares of NYSE NYT traded up $0.17 during midday trading on Thursday, reaching $53.27. 1,222,908 shares of the company’s stock were exchanged, compared to its average volume of 1,143,952. The stock has a market capitalization of $8.73 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16. The business’s fifty day moving average price is $54.78 and its two-hundred day moving average price is $53.73.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. New York Times’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 EPS. Analysts predict that New York Times will post 1.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on NYT shares. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted 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, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.83.

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.