New York Times (NYSE:NYT) Stock Price Target Raised at Barclays

New York Times (NYSE:NYT) had its price objective boosted by investment analysts at Barclays from $63.00 to $64.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 2.49% from the company’s previous close.

Several other equities analysts have also commented on NYT. Weiss Ratings upgraded shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. UBS Group set a $82.00 target price on shares of New York Times in a report on Tuesday, September 15th. New Street Research set a $82.00 target price on shares of New York Times in a research report on Tuesday, September 15th. Guggenheim raised shares of New York Times from a “neutral” rating to a “buy” rating and boosted their price target for the company from $70.00 to $82.00 in a research report on Tuesday, September 15th. Finally, Morgan Stanley decreased their price objective on shares of New York Times from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Sunday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $82.80.

New York Times Trading Down 1.3%

NYSE:NYT traded down $0.86 during trading hours on Thursday, hitting $65.64. The company’s stock had a trading volume of 1,466,423 shares, compared to its average volume of 2,254,865. The stock has a market capitalization of $10.59 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. The stock has a fifty day moving average of $67.34 and a 200-day moving average of $73.29. New York Times has a 52-week low of $57.97 and a 52-week high of $87.10.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. New York Times had a return on equity of 22.64% and a net margin of 13.19%. The business had revenue of $768.54 million for the quarter, compared to the consensus estimate of $767.21 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that New York Times will post 2.83 earnings per share for the current year.

Institutional Investors Weigh In On New York Times

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in New York Times by 20.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,756,180 shares of the company’s stock valued at $230,775,000 after buying an additional 465,600 shares during the period. First Trust Advisors LP raised its position in New York Times by 0.9% during the 1st quarter. First Trust Advisors LP now owns 1,570,073 shares of the company’s stock worth $131,462,000 after buying an additional 14,202 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of New York Times by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 1,512,403 shares of the company’s stock worth $126,633,000 after acquiring an additional 43,796 shares during the period. Boston Trust Walden Corp lifted its stake in shares of New York Times by 12.8% in the 3rd quarter. Boston Trust Walden Corp now owns 802,007 shares of the company’s stock worth $51,088,000 after acquiring an additional 90,693 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in shares of New York Times by 30.3% in the first quarter. Janus Henderson Group PLC now owns 761,118 shares of the company’s stock valued at $63,740,000 after acquiring an additional 177,045 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Trending Headlines about New York Times

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

• Positive Sentiment: Q3 adjusted earnings of $0.68 per share beat the $0.65 analyst estimate, while revenue of $768.54 million topped expectations and rose 9.7% year over year. Digital subscriber gains, higher subscription revenue and increased ad sales drove growth and margin expansion. The New York Times Q3 Earnings Beat on Digital Subscription Growth
• Neutral Sentiment: The other listed articles are largely editorial and sports coverage, with no additional clear company-specific financial catalyst for NYT shares.

About New York Times

The New York Times Company (NYSE: NYT) is a media and technology company best known for publishing The New York Times, a daily newspaper founded in 1851 by Henry Jarvis Raymond and George Jones. The company produces journalism across national and international news, business, politics, culture, science, sports and other topics through print and digital platforms.

In addition to its core news operation, the company offers a range of subscription products and digital services, including NYT Cooking, Games, Audio and The Athletic, a subscription-based sports media platform.