New York Times (NYSE:NYT) Hits New 12-Month High – Should You Buy?

The New York Times Company (NYSE:NYT) hit a new 52-week high on Friday . The stock traded as high as $65.33 and last traded at $65.24, with a volume of 471823 shares trading hands. The stock had previously closed at $64.04.

Wall Street Analyst Weigh In

A number of analysts have commented on NYT shares. UBS Group set a $62.00 price objective on New York Times in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Citigroup upped their target price on shares of New York Times from $64.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research lowered shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

New York Times Stock Performance

The stock has a 50 day moving average price of $59.42 and a 200 day moving average price of $57.53. The company has a market capitalization of $10.58 billion, a P/E ratio of 31.77, a PEG ratio of 1.60 and a beta of 1.16.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. The business had revenue of $700.82 million for the quarter, compared to analyst estimates of $692.01 million. New York Times had a net margin of 12.29% and a return on equity of 20.30%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Investors of record on Wednesday, October 8th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, October 8th. New York Times’s dividend payout ratio is presently 35.12%.

Institutional Investors Weigh In On New York Times

Institutional investors have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. lifted its holdings in shares of New York Times by 264.0% in the second quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock worth $949,000 after buying an additional 12,294 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in New York Times by 49.9% during the second quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after acquiring an additional 65,175 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in New York Times by 154.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock worth $3,685,000 after acquiring an additional 39,149 shares during the period. Element Capital Management LLC bought a new position in New York Times in the 1st quarter valued at $2,742,000. Finally, Harbor Capital Advisors Inc. grew its position in shares of New York Times by 29.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock valued at $1,725,000 after purchasing an additional 6,957 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.