New York Times (NYT) Now Covered by Evercore ISI

Investment analysts at Evercore ISI initiated coverage on shares of New York Times (NYSE:NYT) in a report released on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.

Several other equities research analysts have also recently issued reports on NYT. Zacks Investment Research reaffirmed a “hold” rating on shares of New York Times in a report on Wednesday, November 14th. ValuEngine cut New York Times from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays cut New York Times from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. boosted their price objective on New York Times to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $25.33.

Shares of NYT stock opened at $24.49 on Thursday. New York Times has a 12-month low of $18.08 and a 12-month high of $28.72. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $4.16 billion, a PE ratio of 30.61, a PEG ratio of 3.81 and a beta of 1.13.

New York Times (NYSE:NYT) last issued its earnings results on Thursday, November 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. New York Times had a return on equity of 15.14% and a net margin of 0.79%. The firm had revenue of $417.30 million for the quarter, compared to analysts’ expectations of $409.80 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that New York Times will post 0.77 EPS for the current year.

In other New York Times news, Director Robert E. Denham sold 3,492 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $27.84, for a total transaction of $97,217.28. Following the sale, the director now directly owns 45,237 shares of the company’s stock, valued at $1,259,398.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Thompson sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $25.90, for a total value of $1,036,000.00. The disclosure for this sale can be found here. Insiders have sold 133,492 shares of company stock worth $3,190,617 over the last three months. 5.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. CSat Investment Advisory L.P. bought a new stake in New York Times during the second quarter worth approximately $120,000. D.A. Davidson & CO. bought a new stake in New York Times during the second quarter worth approximately $201,000. Tower Research Capital LLC TRC grew its stake in shares of New York Times by 296.1% during the third quarter. Tower Research Capital LLC TRC now owns 8,322 shares of the company’s stock valued at $193,000 after buying an additional 6,221 shares during the last quarter. Man Group plc bought a new position in shares of New York Times during the third quarter valued at approximately $204,000. Finally, Jane Street Group LLC bought a new position in shares of New York Times during the third quarter valued at approximately $222,000. 91.43% of the stock is currently owned by institutional investors.

New York Times 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.

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