New York Times (NYSE:NYT) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

New York Times (NYSE:NYT) announced its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01, Briefing.com reports. New York Times had a return on equity of 13.40% and a net margin of 7.55%. The firm had revenue of $428.50 million for the quarter, compared to analysts’ expectations of $428.35 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year.

Shares of NYSE NYT traded up $0.76 during trading on Friday, hitting $30.97. The company had a trading volume of 868,242 shares, compared to its average volume of 1,945,867. The company has a market cap of $5.02 billion, a P/E ratio of 38.23 and a beta of 1.15. New York Times has a 52 week low of $21.34 and a 52 week high of $36.25. The business’s 50-day moving average is $29.68 and its 200 day moving average is $31.81.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Wednesday, October 2nd were issued a $0.05 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.65%. New York Times’s dividend payout ratio is currently 24.69%.

Several equities research analysts recently commented on NYT shares. Zacks Investment Research raised New York Times from a “sell” rating to a “hold” rating and set a $32.00 price target on the stock in a report on Wednesday, October 23rd. ValuEngine cut New York Times from a “hold” rating to a “sell” rating in a report on Monday. Guggenheim started coverage on New York Times in a report on Wednesday, October 9th. They issued a “neutral” rating and a $27.50 price target on the stock. Finally, Evercore ISI set a $38.00 price target on New York Times and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.63.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers 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.

Further Reading: FAANG Stocks

Earnings History for New York Times (NYSE:NYT)

Receive News & Ratings for New York Times Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Times and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply