The New York Times Company (NYSE:NYT) Receives Consensus Rating of “Moderate Buy” from Analysts

The New York Times Company (NYSE:NYT) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $54.83.

Several brokerages recently issued reports on NYT. JPMorgan Chase & Co. increased their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On New York Times

A number of hedge funds have recently bought and sold shares of the company. Darsana Capital Partners LP grew its stake in New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares in the last quarter. Wellington Management Group LLP grew its stake in New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp boosted its stake in New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after acquiring an additional 32,905 shares during the period. Geode Capital Management LLC boosted its stake in New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares during the period. Finally, Franklin Resources Inc. boosted its stake in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Down 0.5 %

Shares of NYSE NYT opened at $53.97 on Thursday. New York Times has a 12-month low of $41.55 and a 12-month high of $58.16. The company has a market cap of $8.85 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.51 and a beta of 1.00. The stock has a fifty day moving average price of $53.44 and a 200 day moving average price of $54.07.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that New York Times will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 9th were paid a $0.13 dividend. The ex-dividend date was Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. New York Times’s dividend payout ratio (DPR) is 30.77%.

About New York Times

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.