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

Shares of The New York Times Company (NYSE:NYT) have earned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.3333.

A number of equities analysts have recently issued reports on NYT shares. Barclays set a $52.00 price target on New York Times and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Guggenheim upped their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Evercore ISI upped their price target on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Citigroup reaffirmed a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th.

New York Times Trading Down 1.4%

Shares of NYSE:NYT opened at $57.39 on Tuesday. New York Times has a 12-month low of $44.83 and a 12-month high of $62.24. The business’s fifty day simple moving average is $57.55 and its 200-day simple moving average is $54.46. The company has a market capitalization of $9.34 billion, a PE ratio of 29.58, a P/E/G ratio of 1.47 and a beta of 1.16.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $670.22 million. During the same period last year, the business posted $0.45 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Research analysts predict that New York Times will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s dividend payout ratio is presently 37.11%.

Insider Buying and Selling at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares of the company’s stock, valued at $652,543.72. This represents a 30.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the transaction, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On New York Times

Hedge funds have recently made changes to their positions in the company. Employees Retirement System of Texas acquired a new position in shares of New York Times in the 2nd quarter valued at $28,000. Hantz Financial Services Inc. raised its stake in shares of New York Times by 4,591.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 551 shares during the last quarter. True Wealth Design LLC raised its stake in shares of New York Times by 519.6% during the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after buying an additional 478 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of New York Times by 86.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the company’s stock valued at $40,000 after buying an additional 330 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock valued at $42,000 after buying an additional 739 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

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.