Shares of New York Times Co (NYSE:NYT) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $25.00.
NYT has been the subject of several research analyst reports. Barclays lowered shares of New York Times from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $20.00 to $18.00 in a research note on Tuesday, November 6th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of New York Times from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of New York Times to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Finally, ValuEngine upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th.
In related news, insider Carso S.A. De C.V. Inversora sold 90,000 shares of New York Times stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $22.86, for a total value of $2,057,400.00. Following the completion of the transaction, the insider now directly owns 8,247,175 shares in the company, valued at approximately $188,530,420.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Denham sold 3,492 shares of New York Times stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $27.84, for a total transaction of $97,217.28. Following the completion of the transaction, the director now owns 45,237 shares of the company’s stock, valued at $1,259,398.08. The disclosure for this sale can be found here. Insiders sold a total of 133,492 shares of company stock valued at $3,190,617 over the last quarter. 5.20% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in New York Times by 9.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,107,300 shares of the company’s stock valued at $28,679,000 after buying an additional 98,700 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in New York Times by 3.2% in the 2nd quarter. Mutual of America Capital Management LLC now owns 110,227 shares of the company’s stock valued at $2,855,000 after purchasing an additional 3,453 shares during the period. SCP Investment LP bought a new position in New York Times in the 2nd quarter valued at $7,770,000. Royal London Asset Management Ltd. boosted its holdings in New York Times by 138.8% in the 3rd quarter. Royal London Asset Management Ltd. now owns 73,617 shares of the company’s stock valued at $1,702,000 after purchasing an additional 42,789 shares during the period. Finally, Swiss National Bank boosted its holdings in New York Times by 2.7% in the 2nd quarter. Swiss National Bank now owns 230,700 shares of the company’s stock valued at $5,975,000 after purchasing an additional 6,100 shares during the period. Institutional investors and hedge funds own 91.43% of the company’s stock.
Shares of NYT stock opened at $25.11 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.24. New York Times has a 12-month low of $17.50 and a 12-month high of $28.72. The company has a market cap of $4.36 billion, a PE ratio of 31.39, a P/E/G ratio of 3.89 and a beta of 1.13.
New York Times (NYSE:NYT) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. New York Times had a net margin of 0.79% and a return on equity of 15.14%. The company had revenue of $417.30 million during the quarter, compared to analyst estimates of $409.80 million. During the same quarter last year, the business posted $0.13 EPS. New York Times’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that New York Times will post 0.79 earnings per share for the current fiscal year.
New York Times Company Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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