The New York Times Company (NYSE:NYT) Receives $54.83 Consensus Target Price from Analysts

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

Several research firms have commented on NYT. Barclays upped their price objective on 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. 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 note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price 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.

Institutional Investors Weigh In On New York Times

Several hedge funds have recently made changes to their positions in NYT. Texas Permanent School Fund Corp boosted its holdings in shares of New York Times by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock worth $6,189,000 after purchasing an additional 1,854 shares during the last quarter. Duality Advisers LP acquired a new position in New York Times in the first quarter valued at $983,000. Quantbot Technologies LP acquired a new position in New York Times in the first quarter valued at $2,293,000. Swiss National Bank boosted its holdings in New York Times by 0.3% in the first quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after acquiring an additional 800 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in New York Times in the first quarter valued at $2,740,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

NYSE:NYT opened at $54.48 on Friday. The stock has a 50-day simple moving average of $54.84 and a 200-day simple moving average of $52.58. The stock has a market cap of $8.95 billion, a P/E ratio of 32.24, a P/E/G ratio of 1.75 and a beta of 1.02. New York Times has a 1 year low of $41.55 and a 1 year high of $57.08.

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

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 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.