New York Times (NYT) Sees Unusually-High Trading Volume

New York Times Co (NYSE:NYT) shares saw unusually-strong trading volume on Friday . Approximately 4,219,235 shares changed hands during trading, an increase of 140% from the previous session’s volume of 1,757,959 shares.The stock last traded at $20.25 and had previously closed at $19.45.

A number of analysts have recently issued reports on NYT shares. Zacks Investment Research upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, November 3rd. ValuEngine downgraded shares of New York Times from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group restated a “hold” rating and set a $18.00 price target on shares of New York Times in a report on Monday, October 16th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. New York Times currently has a consensus rating of “Hold” and an average price target of $15.45.

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market cap of $3,210.00, a price-to-earnings ratio of 33.20 and a beta of 1.65.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, November 1st. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. New York Times had a net margin of 6.02% and a return on equity of 13.46%. The firm had revenue of $385.60 million during the quarter, compared to the consensus estimate of $390.13 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts anticipate that New York Times Co will post 0.72 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, January 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $0.16 annualized dividend and a yield of 0.79%. New York Times’s dividend payout ratio (DPR) is presently 26.23%.

A number of institutional investors have recently bought and sold shares of NYT. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in New York Times by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,289 shares of the company’s stock valued at $111,000 after purchasing an additional 673 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in New York Times by 6.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,635 shares of the company’s stock valued at $118,000 after purchasing an additional 429 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in New York Times in the 3rd quarter valued at approximately $192,000. D.A. Davidson & CO. increased its holdings in New York Times by 5,475.5% in the 2nd quarter. D.A. Davidson & CO. now owns 11,151 shares of the company’s stock valued at $197,000 after purchasing an additional 10,951 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in New York Times in the 2nd quarter valued at approximately $239,000. Hedge funds and other institutional investors own 67.90% of the company’s stock.

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New York Times Company Profile

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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