New York Times (NYSE:NYT) Given New $53.00 Price Target at Guggenheim

New York Times (NYSE:NYT) had its price target hoisted by Guggenheim from $52.00 to $53.00 in a research report report published on Thursday morning,Benzinga reports. Guggenheim currently has a neutral rating on the stock.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Morgan Stanley reduced their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Up 1.9 %

NYSE NYT opened at $53.61 on Thursday. The firm has a 50-day moving average price of $49.38 and a two-hundred day moving average price of $51.59. New York Times has a 12-month low of $44.83 and a 12-month high of $58.16. The company has a market capitalization of $8.75 billion, a P/E ratio of 30.12, a P/E/G ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The business had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. New York Times’s revenue was up 7.1% compared to the same quarter last year. Equities analysts expect that New York Times will post 2.08 EPS for the current year.

Hedge Funds Weigh In On New York Times

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of New York Times by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock worth $792,975,000 after buying an additional 187,056 shares in the last quarter. ING Groep NV acquired a new position in New York Times in the 1st quarter worth about $2,048,000. Jupiter Asset Management Ltd. raised its position in New York Times by 258.2% in the first quarter. Jupiter Asset Management Ltd. now owns 401,042 shares of the company’s stock valued at $19,892,000 after purchasing an additional 289,091 shares during the last quarter. Blueshift Asset Management LLC raised its position in New York Times by 81.1% in the first quarter. Blueshift Asset Management LLC now owns 39,217 shares of the company’s stock valued at $1,945,000 after purchasing an additional 17,568 shares during the last quarter. Finally, Wealthquest Corp acquired a new stake in shares of New York Times during the first quarter valued at about $466,000. Institutional investors own 95.37% of the company’s stock.

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.