Shares of The New York Times Company (NYSE:NYT – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $82.70.
A number of analysts recently commented on the company. Wall Street Zen lowered New York Times from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded shares of New York Times from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Barclays reduced their target price on shares of New York Times from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings raised shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Finally, UBS Group set a $82.00 price target on shares of New York Times in a research report on Tuesday, September 15th.
Check Out Our Latest Analysis on New York Times
New York Times Stock Down 3.6%
NYT stock opened at $67.45 on Wednesday. New York Times has a twelve month low of $57.20 and a twelve month high of $87.10. The company has a market cap of $10.88 billion, a P/E ratio of 28.11, a PEG ratio of 1.81 and a beta of 0.89. The business has a fifty day moving average of $67.37 and a 200-day moving average of $73.31.
New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $762.46 million for the quarter, compared to analysts’ expectations of $752.01 million. New York Times had a return on equity of 22.64% and a net margin of 13.19%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. As a group, equities research analysts anticipate that New York Times will post 2.83 earnings per share for the current fiscal year.
New York Times Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. New York Times’s dividend payout ratio (DPR) is presently 38.33%.
New York Times News Summary
Here are the key news stories impacting New York Times this week:
- Positive Sentiment: Digital subscriptions and advertising are expected to support Q3 growth, according to an earnings preview. Assessing The New York Times Company Ahead of Q3 Earnings Release
- Neutral Sentiment: The Times sued Brave, alleging the browser scraped its copyrighted content and distributed it to AI companies. The case could help protect the company’s content and licensing interests, but litigation outcomes and costs are uncertain. New York Times and other outlets sue web browser Brave over alleged content scraping
- Negative Sentiment: The earnings preview also flags rising costs and weakness in print, which could temper gains from digital subscriptions and advertising and make Q3 results and guidance important catalysts. Assessing The New York Times Company Ahead of Q3 Earnings Release
Institutional Trading of New York Times
A number of institutional investors have recently bought and sold shares of NYT. Basecamp Wealth Advisors LLC lifted its stake in shares of New York Times by 1,191.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock valued at $26,000 after purchasing an additional 286 shares during the period. Root Financial Partners LLC bought a new position in shares of New York Times in the 3rd quarter worth $41,000. Bessemer Group Inc. boosted its position in shares of New York Times by 34.4% in the 1st quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock worth $58,000 after purchasing an additional 176 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in shares of New York Times during the third quarter worth $59,000. Finally, Provenance Wealth Advisors LLC acquired a new stake in shares of New York Times during the third quarter worth $61,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
About New York Times
The New York Times Company (NYSE: NYT) is a media and technology company best known for publishing The New York Times, a daily newspaper founded in 1851 by Henry Jarvis Raymond and George Jones. The company produces journalism across national and international news, business, politics, culture, science, sports and other topics through print and digital platforms.
In addition to its core news operation, the company offers a range of subscription products and digital services, including NYT Cooking, Games, Audio and The Athletic, a subscription-based sports media platform.
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