New York Times Co (NYSE:NYT) shares hit a new 52-week high on Thursday . The stock traded as high as $39.48 and last traded at $39.43, with a volume of 7864 shares trading hands. The stock had previously closed at $38.99.
Several equities research analysts have recently weighed in on the stock. Cfra increased their target price on shares of New York Times from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, February 6th. ValuEngine raised shares of New York Times from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research raised shares of New York Times from a “sell” rating to a “hold” rating and set a $32.00 target price on the stock in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $35.70.
The firm has a market cap of $6.46 billion, a PE ratio of 46.76 and a beta of 1.15. The company’s 50 day moving average price is $33.67 and its two-hundred day moving average price is $31.42.
New York Times (NYSE:NYT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.14. The company had revenue of $508.40 million for the quarter, compared to the consensus estimate of $505.10 million. New York Times had a net margin of 7.72% and a return on equity of 14.19%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. On average, equities research analysts expect that New York Times Co will post 0.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Wednesday, April 8th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, April 7th. This is an increase from New York Times’s previous quarterly dividend of $0.05. New York Times’s dividend payout ratio (DPR) is currently 21.74%.
In related news, Director Arthur Sulzberger, Jr. sold 136,650 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $31.23, for a total value of $4,267,579.50. Following the transaction, the director now owns 487,303 shares of the company’s stock, valued at approximately $15,218,472.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC bought a new position in New York Times during the 3rd quarter worth about $57,000. Huntington National Bank grew its holdings in New York Times by 230,500.0% during the 4th quarter. Huntington National Bank now owns 2,306 shares of the company’s stock worth $74,000 after acquiring an additional 2,305 shares in the last quarter. Smithfield Trust Co. bought a new position in New York Times during the 3rd quarter worth about $77,000. Chevy Chase Trust Holdings Inc. bought a new position in New York Times during the 4th quarter worth about $78,000. Finally, IFP Advisors Inc grew its holdings in New York Times by 26.0% during the 4th quarter. IFP Advisors Inc now owns 2,747 shares of the company’s stock worth $88,000 after acquiring an additional 566 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors.
About New York Times (NYSE:NYT)
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.
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