New York Times Company (The) (NYT) Announces $0.04 Quarterly Dividend
New York Times Company (The) (NYSE:NYT) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Investors of record on Wednesday, January 10th will be given a dividend of 0.04 per share on Thursday, January 25th. This represents a $0.16 annualized dividend and a yield of 0.88%.
New York Times has raised its dividend payment by an average of 58.7% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. New York Times has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 21.6%.
New York Times (NYT) traded down $0.10 during midday trading on Thursday, reaching $18.10. The company had a trading volume of 1,097,042 shares, compared to its average volume of 1,107,542. New York Times has a 12-month low of $13.00 and a 12-month high of $20.15. The stock has a market cap of $2,950.00, a P/E ratio of 25.00 and a beta of 1.65. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.27.
Several equities analysts recently weighed in on NYT shares. Zacks Investment Research raised New York Times from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, November 3rd. ValuEngine downgraded New York Times from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $18.00 price objective on shares of New York Times in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $15.45.
About New York Times
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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