New York Times (NYSE:NYT) Announces Earnings Results, Beats Expectations By $0.06 EPS

New York Times (NYSE:NYT) released its earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06, Zacks reports. New York Times had a return on equity of 17.75% and a net margin of 11.04%.

New York Times Price Performance

Shares of NYT stock traded down $0.60 during mid-day trading on Friday, hitting $48.60. The company had a trading volume of 986,589 shares, compared to its average volume of 1,734,705. The stock’s 50 day moving average price is $53.31 and its 200-day moving average price is $54.06. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16. The company has a market capitalization of $7.97 billion, a P/E ratio of 28.80, a P/E/G ratio of 1.51 and a beta of 1.01.

New York Times Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a $0.18 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. New York Times’s dividend payout ratio is 30.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NYT shares. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft increased 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. Finally, StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.71.

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.