The New York Times Company (NYSE:NYT) Given Average Recommendation of “Moderate Buy” by Analysts

The New York Times Company (NYSE:NYT) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $56.00.

NYT has been the topic of a number of research analyst reports. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley dropped their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th.

Institutional Trading of New York Times

Hedge funds have recently added to or reduced their stakes in the company. 111 Capital bought a new position in New York Times during the 4th quarter worth $342,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in New York Times during the fourth quarter worth about $15,659,000. Jefferies Financial Group Inc. acquired a new stake in New York Times in the 4th quarter worth about $631,000. Putney Financial Group LLC bought a new stake in New York Times in the 4th quarter valued at about $102,000. Finally, Burgundy Asset Management Ltd. grew its position in shares of New York Times by 16.4% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,407,458 shares of the company’s stock worth $73,258,000 after purchasing an additional 197,859 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Trading Up 0.3 %

Shares of NYT stock opened at $48.69 on Friday. The firm’s 50 day moving average is $50.37 and its 200-day moving average is $52.96. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.75 and a beta of 1.18. New York Times has a 1 year low of $41.55 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, equities research analysts forecast that New York Times will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times’s dividend payout ratio is presently 40.45%.

About New York Times

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.