The New York Times Company (NYSE:NYT) Stock Has Consensus Target Price of $84.20

The New York Times Company (NYSE:NYT) has received an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $84.20.

Several research analysts have recently commented on NYT shares. Weiss Ratings upgraded New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Bank of America lowered their target price on shares of New York Times from $87.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, June 24th. Citigroup reaffirmed a “neutral” rating on shares of New York Times in a research note on Wednesday, June 24th. Wall Street Zen cut New York Times from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Barclays reduced their price objective on New York Times from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th.

Institutional Trading of New York Times

Hedge funds have recently added to or reduced their stakes in the stock. Legacy Wealth Asset Management LLC increased its holdings in shares of New York Times by 14.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 9,312 shares of the company’s stock worth $593,000 after buying an additional 1,206 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of New York Times by 63.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,044 shares of the company’s stock valued at $512,000 after acquiring an additional 3,123 shares in the last quarter. Steph & Co. bought a new stake in New York Times during the 3rd quarter worth $68,000. Envestnet Portfolio Solutions Inc. increased its holdings in New York Times by 1.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,165 shares of the company’s stock worth $1,201,000 after purchasing an additional 242 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in New York Times in the 2nd quarter worth about $819,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $66.41 on Friday. New York Times has a 52-week low of $54.10 and a 52-week high of $87.10. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.72 and a beta of 0.93. The firm’s 50-day moving average is $66.58 and its 200-day moving average is $73.27.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $762.46 million during the quarter, compared to analysts’ expectations of $752.01 million. New York Times had a return on equity of 22.64% and a net margin of 13.19%. New York Times’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 earnings per share. Sell-side analysts predict that New York Times will post 2.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Wednesday, October 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.92 annualized dividend and a dividend yield of 1.4%. New York Times’s payout ratio is 38.33%.

More New York Times News

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

• Positive Sentiment: The Athletic continues to provide a broad stream of premium sports content. Coverage includes Manchester City’s financial-scandal fallout, NFL and NBA features, MLB playoff analysis, college football, Formula 1 and WNBA updates. The volume and variety may support engagement, subscriptions and the strategic value of NYT’s sports offering. Manchester City’s case is another bill fans never agreed to pay
• Positive Sentiment: Breaking-news and live coverage reinforce the breadth of the NYT platform. Reports on the Riyadh airport attack, the Nobel Peace Prize and France’s protests demonstrate continued global-news reach, which can help attract and retain paying digital readers. Houthi Attacks on Riyadh Airport Leave 3 Dead, Saudi Arabia Says
• Neutral Sentiment: Most of the remaining articles are regular editorial output rather than investor catalysts. Culture, lifestyle, music, movie reviews, politics, health, international affairs and sports stories may influence readership over time, but they provide no disclosed update on NYT revenue, costs, subscribers or guidance. The Social Reckoning Review: Sounding the Alarm
• Negative Sentiment: The absence of a fresh financial catalyst leaves valuation and technical pressure in focus. With no new earnings announcement or company guidance in these reports, investors may continue weighing NYT’s valuation against slowing market momentum, helping explain why the shares have been trading below their longer-term average. NLCS predictions: Will the Dodgers-Brewers rematch have a different outcome?

About New York Times

The New York Times Company is a media and information company best known for publishing The New York Times, a global news organization founded in 1851. The company produces journalism across national and international news, politics, business, culture, science, sports and opinion, distributing its content through digital platforms and the newspaper’s print edition.

In addition to its core news business, the company offers a range of subscription products and services, including NYT Cooking, Games, Audio and Wirecutter, a product-recommendation service.