Analysts Anticipate New York Times Company (The) (NYT) Will Announce Earnings of $0.09 Per Share
Analysts predict that New York Times Company (The) (NYSE:NYT) will announce $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for New York Times Company (The)’s earnings. New York Times Company (The) posted earnings of $0.06 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The firm is expected to report its next earnings results on Wednesday, November 1st.
On average, analysts expect that New York Times Company (The) will report full-year earnings of $0.72 per share for the current year, with EPS estimates ranging from $0.68 to $0.76. For the next fiscal year, analysts expect that the business will report earnings of $0.77 per share, with EPS estimates ranging from $0.67 to $0.87. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover New York Times Company (The).
New York Times Company (The) (NYSE:NYT) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The firm had revenue of $407.10 million for the quarter, compared to analyst estimates of $393.07 million. New York Times Company (The) had a net margin of 4.12% and a return on equity of 12.76%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS.
NYT has been the subject of a number of research analyst reports. Barclays PLC raised their price objective on shares of New York Times Company (The) from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of New York Times Company (The) from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.20.
New York Times Company (NYSE NYT) opened at 19.25 on Wednesday. New York Times Company has a 52 week low of $10.60 and a 52 week high of $20.15. The company has a 50-day moving average of $19.13 and a 200-day moving average of $17.52. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 48.98 and a beta of 1.78.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Wednesday, October 4th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Tuesday, October 3rd. New York Times Company (The)’s payout ratio is 40.00%.
In other news, CFO James M. Follo sold 138,161 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $18.97, for a total transaction of $2,620,914.17. Following the completion of the transaction, the chief financial officer now directly owns 136,523 shares in the company, valued at approximately $2,589,841.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $19.27, for a total value of $10,049,305.00. Following the transaction, the insider now owns 19,353,000 shares of the company’s stock, valued at $372,932,310. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd bought a new stake in New York Times Company (The) in the second quarter worth $876,000. Verition Fund Management LLC bought a new stake in shares of New York Times Company (The) during the second quarter worth $242,000. The Manufacturers Life Insurance Company lifted its position in shares of New York Times Company (The) by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 273,206 shares of the company’s stock worth $4,836,000 after purchasing an additional 3,183 shares during the last quarter. State Street Corp lifted its position in shares of New York Times Company (The) by 2.3% during the second quarter. State Street Corp now owns 4,112,961 shares of the company’s stock worth $72,796,000 after purchasing an additional 90,840 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of New York Times Company (The) by 65.7% during the second quarter. Royal Bank of Canada now owns 74,573 shares of the company’s stock worth $1,320,000 after purchasing an additional 29,570 shares during the last quarter. Institutional investors own 63.98% 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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