New York Times (NYSE:NYT) Stock Price Expected to Rise, Citigroup Analyst Says

New York Times (NYSE:NYT) had its price target lifted by investment analysts at Citigroup from $64.00 to $72.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 11.48% from the company’s current price.

Several other analysts also recently weighed in on the company. Guggenheim lifted their price objective on New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. UBS Group set a $62.00 price target on shares of New York Times in a research report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Barclays boosted their price objective on shares of New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.57.

New York Times Trading Up 2.1%

Shares of New York Times stock traded up $1.33 on Thursday, hitting $64.58. 1,262,330 shares of the company traded hands, compared to its average volume of 1,738,433. The company has a market cap of $10.52 billion, a PE ratio of 33.27, a PEG ratio of 1.41 and a beta of 1.14. The stock’s 50 day moving average price is $57.56 and its 200-day moving average price is $56.34. New York Times has a 52 week low of $44.83 and a 52 week high of $64.56.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.54 by $0.05. The company had revenue of $700.82 million for the quarter, compared to the consensus estimate of $692.01 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.New York Times’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. As a group, research analysts anticipate that New York Times will post 2.08 EPS for the current fiscal year.

Insider Buying and Selling at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the sale, the executive vice president owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of New York Times

Institutional investors have recently bought and sold shares of the stock. Employees Retirement System of Texas acquired a new position in New York Times during the 2nd quarter valued at approximately $28,000. Hantz Financial Services Inc. grew its holdings in shares of New York Times by 4,591.7% during the second quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock valued at $32,000 after buying an additional 551 shares during the last quarter. True Wealth Design LLC increased its position in shares of New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after acquiring an additional 478 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of New York Times by 86.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 710 shares of the company’s stock valued at $40,000 after acquiring an additional 330 shares during the period. Finally, Whittier Trust Co. purchased a new position in New York Times in the 3rd quarter worth $42,000. 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.