Shares of New York Times Co (NYSE:NYT) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $30.33.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of New York Times from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 10th. ValuEngine upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Finally, Cannonball Research upgraded shares of New York Times to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, March 18th.
Shares of NYSE:NYT opened at $34.01 on Friday. New York Times has a 12 month low of $21.34 and a 12 month high of $34.85. The firm has a market cap of $5.64 billion, a P/E ratio of 41.99 and a beta of 1.26.
New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 6th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. New York Times had a net margin of 7.19% and a return on equity of 13.61%. The firm had revenue of $502.70 million for the quarter, compared to analyst estimates of $479.57 million. During the same period last year, the business earned $0.39 EPS. New York Times’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts predict that New York Times will post 0.8 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 3rd will be given a dividend of $0.05 per share. This is an increase from New York Times’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.59%. The ex-dividend date is Tuesday, April 2nd. New York Times’s dividend payout ratio (DPR) is presently 24.69%.
In other New York Times news, CEO Mark Thompson sold 70,000 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $32.36, for a total transaction of $2,265,200.00. Following the transaction, the chief executive officer now directly owns 429,247 shares of the company’s stock, valued at approximately $13,890,432.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Roland A. Caputo sold 11,580 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $31.13, for a total transaction of $360,485.40. Following the transaction, the chief financial officer now directly owns 27,789 shares in the company, valued at $865,071.57. The disclosure for this sale can be found here. Insiders have sold a total of 166,642 shares of company stock worth $5,313,056 over the last three months. 2.70% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of NYT. JPMorgan Chase & Co. boosted its holdings in shares of New York Times by 28.1% in the third quarter. JPMorgan Chase & Co. now owns 112,162 shares of the company’s stock valued at $2,596,000 after acquiring an additional 24,629 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of New York Times by 7.6% in the third quarter. Prudential Financial Inc. now owns 93,691 shares of the company’s stock valued at $2,169,000 after acquiring an additional 6,650 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of New York Times by 7.2% in the third quarter. BlackRock Inc. now owns 16,133,035 shares of the company’s stock valued at $373,479,000 after acquiring an additional 1,090,034 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of New York Times by 6.7% in the third quarter. Great West Life Assurance Co. Can now owns 80,012 shares of the company’s stock valued at $1,848,000 after acquiring an additional 5,038 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of New York Times by 296.1% in the third quarter. Tower Research Capital LLC TRC now owns 8,322 shares of the company’s stock valued at $193,000 after acquiring an additional 6,221 shares in the last quarter. 90.75% of the stock is currently owned by institutional investors and hedge funds.
About New York Times
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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