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

Shares of The New York Times Company (NYSE:NYT) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $56.40.

Several research analysts have weighed in on NYT shares. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Citigroup reiterated a “buy” rating on shares of New York Times in a research report on Thursday, June 12th. Finally, Guggenheim increased their price target on shares of New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, June 2nd.

Insider Transactions at New York Times

In other news, EVP William Bardeen sold 2,500 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president directly owned 16,727 shares of the company’s stock, valued at $950,595.41. This represents a 13.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the transaction, the chief accounting officer directly owned 39,685 shares of the company’s stock, valued at $2,252,123.75. The trade was a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On New York Times

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in New York Times by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock valued at $792,975,000 after acquiring an additional 187,056 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of New York Times by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock worth $515,492,000 after buying an additional 698,433 shares in the last quarter. Darsana Capital Partners LP grew its stake in shares of New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock worth $299,288,000 after buying an additional 750,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock worth $210,084,000 after buying an additional 102,519 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of New York Times by 13.3% in the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company’s stock worth $185,838,000 after buying an additional 418,155 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Down 1.1%

Shares of New York Times stock opened at $52.85 on Thursday. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The company’s 50 day moving average is $55.40 and its 200 day moving average is $52.02. New York Times has a twelve month low of $44.83 and a twelve month high of $58.16.

New York Times (NYSE:NYT) last released its quarterly earnings results 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 11.53% and a return on equity of 18.70%. The business had revenue of $635.91 million for the quarter, compared to the consensus estimate of $634.99 million. During the same period last year, the firm earned $0.31 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts expect that New York Times will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. New York Times’s dividend payout ratio (DPR) is presently 39.13%.

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.