The New York Times Company (NYSE:NYT) Receives Average Recommendation of “Moderate Buy” from Brokerages

The New York Times Company (NYSE:NYTGet Free Report) has received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $81.6667.

A number of research firms recently issued reports on NYT. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Argus upgraded shares of New York Times to a “strong-buy” rating in a report on Thursday, February 19th. Evercore restated an “outperform” rating and set a $92.00 price objective on shares of New York Times in a report on Thursday, May 7th. Bank of America began coverage on shares of New York Times in a report on Wednesday, April 22nd. They set a “neutral” rating and a $84.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a report on Tuesday, April 21st.

Read Our Latest Analysis on New York Times

New York Times Price Performance

Shares of NYT stock opened at $76.79 on Friday. The firm has a 50-day moving average of $79.14 and a 200-day moving average of $74.53. The company has a market cap of $12.43 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.59 and a beta of 0.95. New York Times has a one year low of $51.03 and a one year high of $87.10.

New York Times (NYSE:NYTGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.49 by $0.12. The company had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, research analysts expect that New York Times will post 2.93 earnings per share for the current fiscal year.

Trending Headlines about New York Times

Here are the key news stories impacting New York Times this week:

Insider Buying and Selling

In related news, Director David S. Perpich sold 9,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the sale, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jacqueline M. Welch sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the sale, the executive vice president owned 23,873 shares of the company’s stock, valued at $1,769,944.22. This trade represents a 14.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,121 shares of company stock worth $1,310,920. Insiders own 1.90% of the company’s stock.

Institutional Trading of New York Times

A number of large investors have recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of New York Times by 4.2% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,366 shares of the company’s stock worth $282,000 after purchasing an additional 135 shares in the last quarter. Andina Capital Management LLC increased its stake in shares of New York Times by 1.7% in the fourth quarter. Andina Capital Management LLC now owns 8,814 shares of the company’s stock worth $612,000 after purchasing an additional 147 shares in the last quarter. Jackson Thornton Wealth Management LLC increased its stake in shares of New York Times by 3.5% in the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,355 shares of the company’s stock worth $302,000 after purchasing an additional 148 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of New York Times by 34.4% in the first quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock worth $58,000 after purchasing an additional 176 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of New York Times by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 17,944 shares of the company’s stock worth $1,246,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Company Profile

(Get Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

Further Reading

Analyst Recommendations for New York Times (NYSE:NYT)

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