New York Times (NYT) to Release Earnings on Wednesday

New York Times (NYSE:NYT) is set to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect New York Times to post earnings of $0.18 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.10. The company had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. New York Times’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 earnings per share. On average, analysts expect New York Times to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

New York Times Stock Up 2.6 %

Shares of NYT opened at $46.21 on Tuesday. The business has a 50-day simple moving average of $43.37 and a two-hundred day simple moving average of $44.84. New York Times has a 52 week low of $35.06 and a 52 week high of $49.87. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 33.24 and a beta of 1.00.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.13%. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date was Monday, April 1st. New York Times’s dividend payout ratio is currently 37.41%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NYT shares. Citigroup started coverage on shares of New York Times in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the sale, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Insiders sold a total of 23,557 shares of company stock worth $1,029,968 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

About New York Times

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.