$410.09 Million in Sales Expected for New York Times Co Class A (NYT) This Quarter

Wall Street analysts expect New York Times Co Class A (NYSE:NYT) to report $410.09 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for New York Times Co Class A’s earnings. The lowest sales estimate is $408.70 million and the highest is $411.47 million. New York Times Co Class A reported sales of $385.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that New York Times Co Class A will report full year sales of $1.72 billion for the current financial year. For the next year, analysts anticipate that the business will post sales of $1.81 billion per share, with estimates ranging from $1.80 billion to $1.82 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow New York Times Co Class A.

New York Times Co Class A (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $414.60 million during the quarter, compared to analyst estimates of $411.25 million. New York Times Co Class A had a return on equity of 15.00% and a net margin of 1.24%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS.

A number of analysts have commented on the company. Zacks Investment Research lowered New York Times Co Class A from a “hold” rating to a “strong sell” rating in a report on Friday, August 10th. ValuEngine lowered New York Times Co Class A from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. JP Morgan Cazenove reissued an “overweight” rating on shares of New York Times Co Class A in a report on Monday, April 30th. Finally, JPMorgan Chase & Co. raised New York Times Co Class A from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.75.

In other news, COO Levien Meredith A. Kopit sold 8,354 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $22.76, for a total value of $190,137.04. Following the completion of the transaction, the chief operating officer now directly owns 45,389 shares of the company’s stock, valued at $1,033,053.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 20,005 shares of the company’s stock in a transaction that occurred on Wednesday, July 11th. The shares were sold at an average price of $26.68, for a total value of $533,733.40. Following the completion of the transaction, the insider now directly owns 8,806,237 shares of the company’s stock, valued at $234,950,403.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,496,807 shares of company stock valued at $84,231,833. 5.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Pendal Group Ltd purchased a new position in New York Times Co Class A in the second quarter valued at approximately $949,000. Weybosset Research & Management LLC lifted its stake in New York Times Co Class A by 91.2% in the first quarter. Weybosset Research & Management LLC now owns 194,120 shares of the company’s stock valued at $4,678,000 after purchasing an additional 92,570 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in New York Times Co Class A in the first quarter valued at approximately $38,845,000. Legal & General Group Plc lifted its stake in New York Times Co Class A by 10.9% in the first quarter. Legal & General Group Plc now owns 124,634 shares of the company’s stock valued at $3,004,000 after purchasing an additional 12,250 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in New York Times Co Class A by 3.2% in the first quarter. Principal Financial Group Inc. now owns 613,540 shares of the company’s stock valued at $14,786,000 after purchasing an additional 18,775 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

NYT traded up $0.02 during midday trading on Friday, reaching $23.77. 31,226 shares of the company were exchanged, compared to its average volume of 1,748,717. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $3.92 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.30 and a beta of 1.65. New York Times Co Class A has a one year low of $16.95 and a one year high of $26.85.

New York Times Co Class A Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

See Also: Price to Earnings Ratio (PE)

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Earnings History and Estimates for New York Times Co Class A (NYSE:NYT)

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