The New York Times Co. (NYSE:NYT) Given Consensus Rating of “Hold” by Brokerages
Shares of The New York Times Co. (NYSE:NYT) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the company. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.47.
NYT has been the topic of a number of research reports. Zacks Investment Research raised The New York Times from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 price target on shares of The New York Times in a research note on Wednesday, September 28th. Finally, TheStreet raised The New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th.
The New York Times (NYSE:NYT) traded down 0.877% on Friday, reaching $11.865. The company’s stock had a trading volume of 390,074 shares. The New York Times has a 52-week low of $11.45 and a 52-week high of $14.27. The company has a market cap of $1.91 billion, a P/E ratio of 36.620 and a beta of 1.62. The firm’s 50-day moving average price is $12.57 and its 200 day moving average price is $12.46.
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The New York Times (NYSE:NYT) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The company had revenue of $372.60 million for the quarter, compared to the consensus estimate of $377.15 million. The New York Times had a return on equity of 13.70% and a net margin of 3.36%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. Equities analysts anticipate that The New York Times will post $0.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Monday, October 3rd. The New York Times’s dividend payout ratio is currently 50.00%.
In other The New York Times news, EVP Levien Meredith A. Kopit sold 26,728 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $13.06, for a total transaction of $349,067.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth A. Richieri sold 24,942 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $12.95, for a total value of $322,998.90. Following the sale, the executive vice president now directly owns 50,203 shares of the company’s stock, valued at $650,128.85. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC raised its stake in shares of The New York Times by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 21,284 shares of the company’s stock worth $258,000 after buying an additional 109 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of The New York Times during the second quarter worth approximately $680,000. Public Employees Retirement System of Ohio raised its stake in shares of The New York Times by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 8,226 shares of the company’s stock worth $100,000 after buying an additional 517 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of The New York Times by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 622,321 shares of the company’s stock worth $7,531,000 after buying an additional 15,585 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of The New York Times by 61.7% in the second quarter. Stifel Financial Corp now owns 101,171 shares of the company’s stock worth $1,224,000 after buying an additional 38,594 shares in the last quarter. 62.86% of the stock is owned by hedge funds and other institutional investors.
The New York Times Company Profile
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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