The New York Times Company (NYSE:NYT – Get Free Report) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $56.40.
NYT has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of New York Times in a research note on Thursday, June 12th. Guggenheim lifted their price objective on New York Times from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th.
Check Out Our Latest Report on NYT
New York Times Price Performance
New York Times (NYSE:NYT – Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts expect that New York Times will post 2.08 earnings per share for the current year.
Insider Activity at New York Times
In related news, EVP William Bardeen sold 2,500 shares of New York Times stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the transaction, the executive vice president now owns 16,727 shares in the company, valued at $950,595.41. The trade was a 13.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the sale, the chief accounting officer now owns 39,685 shares in the company, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock worth $479,728 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On New York Times
Several institutional investors have recently bought and sold shares of the company. Voya Investment Management LLC boosted its holdings in New York Times by 128.0% in the 1st quarter. Voya Investment Management LLC now owns 296,517 shares of the company’s stock worth $14,707,000 after buying an additional 166,472 shares during the last quarter. Strs Ohio acquired a new stake in New York Times in the 1st quarter worth about $1,532,000. Mattson Financial Services LLC boosted its holdings in shares of New York Times by 3.6% during the 1st quarter. Mattson Financial Services LLC now owns 19,246 shares of the company’s stock worth $955,000 after purchasing an additional 673 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of New York Times by 383.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after purchasing an additional 1,399,865 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of New York Times by 690.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 846 shares of the company’s stock worth $42,000 after purchasing an additional 739 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.
New York Times Company Profile
The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.
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