New York Times (NYSE:NYT) Hits New 1-Year High – Still a Buy?

The New York Times Company (NYSE:NYTGet Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $87.10 and last traded at $85.9070, with a volume of 2020571 shares traded. The stock had previously closed at $85.14.

New York Times News Roundup

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research report on Thursday, January 22nd. Wall Street Zen cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Evercore reaffirmed an “outperform” rating on shares of New York Times in a research report on Thursday, February 5th. Argus raised shares of New York Times to a “strong-buy” rating in a research report on Thursday, February 19th. Finally, Barclays lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.86.

View Our Latest Report on New York Times

New York Times Stock Up 0.9%

The stock has a market capitalization of $13.85 billion, a PE ratio of 41.10, a PEG ratio of 2.65 and a beta of 1.06. The business’s 50-day moving average is $78.09 and its two-hundred day moving average is $68.76.

New York Times (NYSE:NYTGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. New York Times had a net margin of 12.18% and a return on equity of 20.73%. The firm had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $791.55 million. During the same period in the previous year, the company earned $0.80 earnings per share. New York Times’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Wednesday, April 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.1%. This is a boost from New York Times’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, April 1st. New York Times’s dividend payout ratio is presently 44.02%.

Insider Activity at New York Times

In other New York Times news, Chairman Arthur G. Sulzberger sold 13,000 shares of New York Times stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $79.95, for a total value of $1,039,350.00. Following the transaction, the chairman directly owned 172,338 shares in the company, valued at approximately $13,778,423.10. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 13,000 shares of New York Times stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $79.56, for a total transaction of $1,034,280.00. Following the completion of the transaction, the executive vice president owned 18,681 shares in the company, valued at approximately $1,486,260.36. This represents a 41.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 27,913 shares of company stock valued at $2,214,369 over the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Navalign LLC acquired a new position in New York Times in the fourth quarter valued at $25,000. Cornerstone Planning Group LLC increased its stake in New York Times by 74.2% in the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after purchasing an additional 190 shares during the period. International Assets Investment Management LLC acquired a new position in New York Times in the fourth quarter valued at $32,000. SOA Wealth Advisors LLC. acquired a new position in New York Times in the fourth quarter valued at $34,000. Finally, Grove Bank & Trust acquired a new position in New York Times in the fourth quarter valued at $42,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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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