The New York Times Company (NYSE:NYT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The New York Times Company (NYSE:NYT) have earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $50.67.

Several brokerages have recently commented on NYT. Barclays upped their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Evercore ISI upped their price objective on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

Insider Buying and Selling

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On New York Times

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of New York Times during the fourth quarter valued at approximately $31,000. Signaturefd LLC increased its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. increased its stake in shares of New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after purchasing an additional 451 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.9 %

NYSE NYT opened at $55.04 on Monday. The company has a 50-day simple moving average of $52.81 and a two-hundred day simple moving average of $47.98. New York Times has a 12-month low of $39.73 and a 12-month high of $56.49. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 36.69 and a beta of 1.06.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, August 7th. 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 net margin of 10.19% and a return on equity of 17.33%. The business had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Equities analysts expect that New York Times will post 1.77 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, July 9th. New York Times’s payout ratio is currently 34.67%.

New York Times Company Profile

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.