The New York Times Company (NYT) to Distribute Quarterly Dividend of $0.23 on July 23rd

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Friday, June 12th. Investors of record on Wednesday, July 8th will be paid a dividend of 0.23 per share on Thursday, July 23rd. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 8th.

New York Times has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 7 years. New York Times has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.6%.

New York Times Stock Up 0.0%

Shares of NYT stock opened at $73.87 on Monday. The firm has a 50 day moving average of $75.25 and a two-hundred day moving average of $75.67. The stock has a market capitalization of $11.96 billion, a PE ratio of 31.70, a P/E/G ratio of 1.53 and a beta of 0.96. New York Times has a 52 week low of $51.03 and a 52 week high of $87.10.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business had revenue of $712.24 million for the quarter, compared to analyst estimates of $699.93 million. During the same quarter in the prior year, the company earned $0.41 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. Analysts expect that New York Times will post 2.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on NYT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on New York Times from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $95.00 price objective on shares of New York Times in a research note on Thursday, May 7th. Morgan Stanley set a $90.00 target price on New York Times in a report on Thursday, May 7th. Finally, UBS Group set a $80.00 price objective on shares of New York Times in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.22.

New York Times Company Profile

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.