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

Shares of The New York Times Company (NYSE:NYT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.67.

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th.

Insider Buying and Selling at New York Times

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

Institutional Investors Weigh In On New York Times

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Financial Advisors purchased a new stake in shares of New York Times in the 2nd quarter valued at about $760,000. Creative Planning lifted its stake in New York Times by 9.6% in the second quarter. Creative Planning now owns 10,383 shares of the company’s stock valued at $532,000 after buying an additional 912 shares during the last quarter. Algert Global LLC boosted its holdings in shares of New York Times by 17.2% in the second quarter. Algert Global LLC now owns 106,623 shares of the company’s stock valued at $5,460,000 after acquiring an additional 15,655 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of New York Times by 143.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 154,210 shares of the company’s stock worth $7,897,000 after acquiring an additional 90,814 shares during the last quarter. Finally, Darsana Capital Partners LP increased its holdings in shares of New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Trading Down 0.9 %

Shares of NYSE NYT opened at $54.54 on Friday. The stock has a market capitalization of $8.96 billion, a PE ratio of 36.36 and a beta of 1.03. New York Times has a twelve month low of $39.73 and a twelve month high of $56.49. The stock has a fifty day simple moving average of $53.91 and a 200-day simple moving average of $49.28.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. New York Times’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. On average, equities analysts predict that New York Times will post 1.9 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. New York Times’s payout ratio is currently 34.67%.

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.