New York Times Co (NYT) Expected to Post Quarterly Sales of $402.20 Million

Equities analysts forecast that New York Times Co (NYSE:NYT) will post $402.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for New York Times’ earnings, with the highest sales estimate coming in at $405.60 million and the lowest estimate coming in at $398.80 million. New York Times reported sales of $398.80 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.9%. The business is expected to issue its next quarterly earnings results on Wednesday, May 2nd.

On average, analysts expect that New York Times will report full year sales of $402.20 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.71 billion. For the next year, analysts anticipate that the business will report sales of $1.76 billion per share, with estimates ranging from $1.73 billion to $1.78 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover New York Times.

New York Times (NYSE:NYT) last released its earnings results on Thursday, February 8th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.09. The company had revenue of $484.00 million during the quarter, compared to the consensus estimate of $467.30 million. New York Times had a return on equity of 14.89% and a net margin of 0.26%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share.

A number of research firms have recently weighed in on NYT. Zacks Investment Research downgraded New York Times from a “buy” rating to a “hold” rating in a research report on Monday. Barclays set a $20.00 target price on New York Times and gave the stock a “hold” rating in a research report on Sunday. Finally, ValuEngine downgraded New York Times from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Four research analysts have rated the stock with a hold rating, New York Times has an average rating of “Hold” and a consensus price target of $21.33.

Shares of New York Times (NYSE NYT) opened at $24.75 on Thursday. The firm has a market capitalization of $4,030.00, a price-to-earnings ratio of 825.00, a PEG ratio of 2.13 and a beta of 1.85. New York Times has a 52-week low of $14.08 and a 52-week high of $25.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 1.83.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, January 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. New York Times’s dividend payout ratio is presently 533.33%.

In related news, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $24.13, for a total value of $2,171,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James M. Follo sold 110,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.02, for a total value of $2,642,200.00. Following the completion of the sale, the chief financial officer now owns 194,523 shares of the company’s stock, valued at approximately $4,672,442.46. The disclosure for this sale can be found here. Insiders sold 208,000 shares of company stock valued at $5,005,820 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. increased its holdings in New York Times by 146.1% in the third quarter. Sei Investments Co. now owns 25,445 shares of the company’s stock valued at $499,000 after purchasing an additional 15,104 shares during the last quarter. Brown Advisory Inc. increased its holdings in New York Times by 18.3% in the third quarter. Brown Advisory Inc. now owns 56,540 shares of the company’s stock valued at $1,108,000 after purchasing an additional 8,727 shares during the last quarter. Legal & General Group Plc increased its holdings in New York Times by 10.9% in the third quarter. Legal & General Group Plc now owns 108,391 shares of the company’s stock valued at $2,125,000 after purchasing an additional 10,610 shares during the last quarter. OxFORD Asset Management LLP increased its holdings in New York Times by 64.1% in the third quarter. OxFORD Asset Management LLP now owns 349,359 shares of the company’s stock valued at $6,865,000 after purchasing an additional 136,523 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in New York Times by 247.9% in the third quarter. JPMorgan Chase & Co. now owns 539,700 shares of the company’s stock valued at $10,606,000 after purchasing an additional 384,565 shares during the last quarter. Institutional investors and hedge funds own 67.60% of the company’s stock.

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

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