The New York Times Company (NYSE:NYT) Raises Dividend to $0.18 Per Share

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 annualized dividend and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13.

New York Times has increased its dividend by an average of 22.9% per year over the last three years. New York Times has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.4%.

New York Times Price Performance

New York Times stock traded down $6.51 during midday trading on Wednesday, hitting $49.39. 544,006 shares of the stock were exchanged, compared to its average volume of 1,482,303. The company has a 50 day moving average price of $53.49 and a two-hundred day moving average price of $54.10. The firm has a market cap of $8.10 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.51 and a beta of 1.01. 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 issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. As a group, analysts predict that New York Times will post 1.84 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NYT shares. Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and an average target price of $54.83.

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.