Analysts Set The New York Times Company (NYSE:NYT) PT at $45.67

Shares of The New York Times Company (NYSE:NYT) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.67.

A number of equities research analysts recently weighed in on NYT shares. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Finally, Citigroup began coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company.

Insider Buying and Selling at New York Times

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now directly owns 90,759 shares in the company, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,557 shares of company stock worth $1,029,968. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On New York Times

A number of large investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its stake in shares of New York Times by 2.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the company’s stock valued at $2,036,000 after purchasing an additional 1,100 shares in the last quarter. Hall Laurie J Trustee boosted its stake in New York Times by 0.6% during the first quarter. Hall Laurie J Trustee now owns 74,860 shares of the company’s stock worth $3,236,000 after acquiring an additional 410 shares in the last quarter. Gradient Investments LLC bought a new stake in New York Times during the first quarter worth about $15,190,000. Confluence Wealth Services Inc. boosted its stake in New York Times by 3.2% during the first quarter. Confluence Wealth Services Inc. now owns 17,146 shares of the company’s stock worth $741,000 after acquiring an additional 538 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in New York Times by 2.5% during the first quarter. State of Michigan Retirement System now owns 40,216 shares of the company’s stock worth $1,738,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYT opened at $43.25 on Tuesday. The firm has a 50 day simple moving average of $43.28 and a two-hundred day simple moving average of $44.73. The company has a market cap of $7.10 billion, a P/E ratio of 31.12 and a beta of 1.01. New York Times has a one year low of $35.06 and a one year high of $49.87.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The company had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. New York Times’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts expect that New York Times will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Monday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

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.