New York Times (NYSE:NYT) Sets New 1-Year High – What’s Next?

The New York Times Company (NYSE:NYTGet Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $79.00 and last traded at $78.1820, with a volume of 5394 shares trading hands. The stock had previously closed at $77.99.

Trending Headlines about New York Times

Here are the key news stories impacting New York Times this week:

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NYT shares. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $71.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Evercore restated an “outperform” rating on shares of New York Times in a research note on Thursday, February 5th. Guggenheim set a $63.00 price objective on New York Times and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Barclays increased their price target on shares of New York Times from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 20th. Finally, UBS Group set a $62.00 target price on shares of New York Times in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.43.

Read Our Latest Stock Report on New York Times

New York Times Trading Down 2.2%

The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 36.42, a P/E/G ratio of 2.42 and a beta of 1.11. The company’s fifty day moving average is $71.21 and its two-hundred day moving average is $63.74.

New York Times (NYSE:NYTGet Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $802.31 million for the quarter, compared to analysts’ expectations of $791.55 million. New York Times had a net margin of 12.18% and a return on equity of 21.02%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 earnings per share. Analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Wednesday, April 1st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.18. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. New York Times’s payout ratio is presently 34.45%.

Insider Buying and Selling at New York Times

In other news, CAO R Anthony Benten sold 1,913 shares of New York Times stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $73.57, for a total transaction of $140,739.41. Following the completion of the sale, the chief accounting officer directly owned 37,772 shares in the company, valued at approximately $2,778,886.04. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of New York Times

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Navalign LLC purchased a new position in shares of New York Times in the 4th quarter worth about $25,000. Cornerstone Planning Group LLC grew its stake in shares of New York Times by 74.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after acquiring an additional 190 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of New York Times during the fourth quarter worth about $32,000. SOA Wealth Advisors LLC. acquired a new position in shares of New York Times in the fourth quarter worth about $34,000. Finally, Employees Retirement System of Texas acquired a new position in shares of New York Times in the second quarter worth about $28,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Company Profile

(Get Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

Further Reading

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