The New York Times Company (NYSE:NYT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of The New York Times Company (NYSE:NYT) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $54.83.

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On New York Times

Several hedge funds have recently bought and sold shares of NYT. Franklin Resources Inc. increased its stake in shares of New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares during the period. Comgest Global Investors S.A.S. increased its position in New York Times by 3.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after buying an additional 14,407 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of New York Times by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after buying an additional 40,058 shares in the last quarter. Algert Global LLC lifted its holdings in shares of New York Times by 17.2% during the second quarter. Algert Global LLC now owns 106,623 shares of the company’s stock worth $5,460,000 after buying an additional 15,655 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of New York Times by 31.9% in the second quarter. Texas Permanent School Fund Corp now owns 188,876 shares of the company’s stock valued at $9,672,000 after acquiring an additional 45,672 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Performance

NYSE:NYT opened at $53.19 on Friday. The stock’s 50-day simple moving average is $54.46 and its 200 day simple moving average is $53.85. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16. The company has a market cap of $8.72 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that New York Times will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, January 9th. New York Times’s payout ratio is 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.