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

The New York Times Company (NYSE:NYT) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $54.83.

A number of research firms recently commented on NYT. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Barclays boosted their price target on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

New York Times Trading Down 3.2 %

Shares of NYT stock opened at $52.46 on Friday. The stock has a 50 day simple moving average of $54.85 and a 200-day simple moving average of $52.60. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. New York Times has a 12-month low of $41.55 and a 12-month high of $57.08.

New York Times (NYSE:NYT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. New York Times’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, equities analysts forecast that New York Times will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.99%. New York Times’s dividend payout ratio is currently 30.77%.

Institutional Investors Weigh In On New York Times

A number of institutional investors and hedge funds have recently bought and sold shares of NYT. Janus Henderson Group PLC lifted its position in shares of New York Times by 72.9% in the first quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after acquiring an additional 51,801 shares in the last quarter. Entropy Technologies LP purchased a new position in New York Times in the 1st quarter valued at about $473,000. Comerica Bank lifted its holdings in New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock valued at $3,599,000 after purchasing an additional 11,234 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of New York Times by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock worth $5,054,000 after purchasing an additional 9,609 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of New York Times during the first quarter worth about $2,293,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.