New York Times Co (NYSE:NYT) – Research analysts at Jefferies Group upped their Q3 2018 earnings per share estimates for shares of New York Times in a research note issued to investors on Thursday. Jefferies Group analyst J. Janedis now forecasts that the company will post earnings of $0.18 per share for the quarter, up from their prior estimate of $0.11. Jefferies Group currently has a “Hold” rating and a $18.00 target price on the stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded New York Times from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, November 3rd. ValuEngine downgraded New York Times from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.00.
New York Times (NYSE:NYT) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.09. New York Times had a return on equity of 14.89% and a net margin of 0.26%. The company had revenue of $484.00 million during the quarter, compared to the consensus estimate of $467.30 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in New York Times by 1.5% during the fourth quarter. BlackRock Inc. now owns 13,324,101 shares of the company’s stock worth $246,496,000 after purchasing an additional 202,707 shares during the period. Vanguard Group Inc. grew its stake in New York Times by 6.4% during the second quarter. Vanguard Group Inc. now owns 11,034,212 shares of the company’s stock worth $195,306,000 after purchasing an additional 664,069 shares during the period. State Street Corp grew its stake in New York Times 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 period. Bank of New York Mellon Corp grew its stake in New York Times by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 3,670,097 shares of the company’s stock worth $71,933,000 after purchasing an additional 19,102 shares during the period. Finally, FMR LLC grew its stake in New York Times by 173.6% during the second 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 during the period. 67.71% of the stock is owned by institutional investors and hedge funds.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, January 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.16 annualized dividend and a yield of 0.66%. New York Times’s dividend payout ratio is currently 800.00%.
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New York Times Company Profile
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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