$468.15 Million in Sales Expected for New York Times Co (NYT) This Quarter

Analysts forecast that New York Times Co (NYSE:NYT) will announce sales of $468.15 million for the current quarter, according to Zacks. Two analysts have made estimates for New York Times’ earnings, with estimates ranging from $467.60 million to $468.70 million. New York Times posted sales of $439.65 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.5%. The company is expected to issue its next earnings report on Thursday, February 1st.

According to Zacks, analysts expect that New York Times will report full-year sales of $468.15 million for the current fiscal year. For the next year, analysts forecast that the business will post sales of $1.69 billion per share, with estimates ranging from $1.67 billion to $1.71 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow New York Times.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.05. New York Times had a return on equity of 13.46% and a net margin of 6.02%. The business had revenue of $385.60 million for the quarter, compared to the consensus estimate of $390.13 million. During the same period last year, the business posted $0.06 EPS. The business’s revenue was up 6.1% compared to the same quarter last year.

A number of research analysts have recently issued reports on NYT shares. Zacks Investment Research upgraded New York Times from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, November 3rd. ValuEngine downgraded New York Times from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Jefferies Group reiterated a “hold” rating and issued a $18.00 price target on shares of New York Times in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.45.

Several institutional investors have recently bought and sold shares of NYT. FMR LLC boosted its position in shares of New York Times by 173.6% in the 2nd quarter. FMR LLC now owns 2,430,179 shares of the company’s stock worth $43,014,000 after purchasing an additional 1,542,000 shares in the last quarter. Vanguard Group Inc. lifted its position in New York Times by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,034,212 shares of the company’s stock worth $195,306,000 after acquiring an additional 664,069 shares during the period. Teachers Advisors LLC lifted its position in New York Times by 145.6% during the 2nd quarter. Teachers Advisors LLC now owns 677,421 shares of the company’s stock worth $11,990,000 after acquiring an additional 401,628 shares during the period. JPMorgan Chase & Co. lifted its position in New York Times by 247.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 539,700 shares of the company’s stock worth $10,606,000 after acquiring an additional 384,565 shares during the period. Finally, Renaissance Technologies LLC lifted its position in New York Times by 11.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,793,500 shares of the company’s stock worth $31,745,000 after acquiring an additional 183,000 shares during the period. 68.03% of the stock is owned by hedge funds and other institutional investors.

New York Times (NYSE NYT) opened at $22.95 on Monday. New York Times has a fifty-two week low of $13.00 and a fifty-two week high of $23.00. The stock has a market capitalization of $3,740.00, a price-to-earnings ratio of 37.62 and a beta of 1.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.83 and a quick ratio of 1.83.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Wednesday, January 10th were given a $0.04 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.70%. New York Times’s payout ratio is 26.23%.

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

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