Wall Street brokerages expect that New York Times Company (The) (NYSE:NYT) will report $394.36 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for New York Times Company (The)’s earnings. The lowest sales estimate is $394.11 million and the highest is $394.60 million. New York Times Company (The) posted sales of $372.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is expected to announce its next earnings report on Thursday, July 27th.

On average, analysts expect that New York Times Company (The) will report full year sales of $394.36 million for the current year, with estimates ranging from $1.62 billion to $1.63 billion. For the next financial year, analysts expect that the business will report sales of $1.65 billion per share, with estimates ranging from $1.64 billion to $1.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for New York Times Company (The).

New York Times Company (The) (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. New York Times Company (The) had a return on equity of 11.53% and a net margin of 3.21%. The company had revenue of $398.80 million during the quarter, compared to analysts’ expectations of $381.62 million. During the same period in the prior year, the business earned $0.10 earnings per share. New York Times Company (The)’s revenue for the quarter was up 5.1% compared to the same quarter last year.

A number of research firms recently weighed in on NYT. Zacks Investment Research lowered New York Times Company (The) from a “buy” rating to a “hold” rating in a report on Tuesday. Jefferies Group LLC boosted their target price on New York Times Company (The) from $12.00 to $15.00 and gave the stock a “hold” rating in a report on Thursday, May 4th. Finally, TheStreet raised New York Times Company (The) from a “c+” rating to a “b” rating in a report on Thursday, March 9th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. New York Times Company (The) presently has a consensus rating of “Hold” and a consensus target price of $13.93.

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New York Times Company (NYT) traded up 0.29% during midday trading on Friday, hitting $17.50. The stock had a trading volume of 835,079 shares. The firm has a 50-day moving average price of $17.48 and a 200-day moving average price of $15.17. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 57.38 and a beta of 1.80. New York Times Company has a 1-year low of $10.60 and a 1-year high of $18.00.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 27th. Investors of record on Wednesday, July 12th will be paid a $0.04 dividend. The ex-dividend date is Monday, July 10th. This represents a $0.16 annualized dividend and a yield of 0.92%. New York Times Company (The)’s dividend payout ratio (DPR) is presently 51.61%.

In related news, SVP R Anthony Benten sold 13,200 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $17.59, for a total value of $232,188.00. Following the completion of the sale, the senior vice president now directly owns 49,376 shares in the company, valued at approximately $868,523.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in New York Times Company (The) by 384.2% in the first quarter. Envestnet Asset Management Inc. now owns 7,800 shares of the company’s stock valued at $112,000 after buying an additional 6,189 shares during the period. Independent Portfolio Consultants Inc. increased its stake in New York Times Company (The) by 1,082.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 11,710 shares of the company’s stock valued at $207,000 after buying an additional 10,720 shares during the period. Quantitative Investment Management LLC purchased a new stake in New York Times Company (The) during the first quarter valued at about $210,000. Russell Investments Group Ltd. purchased a new stake in New York Times Company (The) during the fourth quarter valued at about $224,000. Finally, Advantus Capital Management Inc increased its stake in New York Times Company (The) by 3.1% in the first quarter. Advantus Capital Management Inc now owns 15,606 shares of the company’s stock valued at $225,000 after buying an additional 467 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.

About New York Times Company (The)

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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Earnings History and Estimates for New York Times Company (The) (NYSE:NYT)

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