The New York Times Company (NYSE:NYT – Get Free Report) has received an average rating of “Moderate Buy” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $81.6667.
Several equities analysts have recently weighed in on NYT shares. Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a research report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Bank of America started coverage on New York Times in a research note on Wednesday, April 22nd. They set a “neutral” rating and a $84.00 target price on the stock. Guggenheim increased their target price on New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.
Check Out Our Latest Analysis on NYT
Insider Transactions at New York Times
Hedge Funds Weigh In On New York Times
A number of hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in New York Times by 20.1% during the first quarter. Parallel Advisors LLC now owns 8,625 shares of the company’s stock worth $722,000 after acquiring an additional 1,444 shares during the period. NewEdge Advisors LLC increased its position in New York Times by 25.3% during the first quarter. NewEdge Advisors LLC now owns 4,980 shares of the company’s stock worth $417,000 after acquiring an additional 1,006 shares during the period. Caerus Investment Advisors LLC increased its position in New York Times by 8.8% during the first quarter. Caerus Investment Advisors LLC now owns 7,739 shares of the company’s stock worth $648,000 after acquiring an additional 627 shares during the period. Glenmede Trust Co. NA increased its stake in New York Times by 8.5% during the 1st quarter. Glenmede Trust Co. NA now owns 48,035 shares of the company’s stock worth $4,022,000 after acquiring an additional 3,758 shares during the period. Finally, Essential Partners LLC increased its stake in New York Times by 6.7% during the 1st quarter. Essential Partners LLC now owns 9,015 shares of the company’s stock worth $755,000 after acquiring an additional 564 shares during the period. 95.37% of the stock is owned by institutional investors.
Key New York Times News
Here are the key news stories impacting New York Times this week:
- Positive Sentiment: The company published a wide mix of high-interest stories, including major political coverage, war and election updates, business analysis, and World Cup reporting, which can help sustain reader traffic and subscription demand.
- Positive Sentiment: Live blogs and fast-moving coverage from The Athletic and the main news desk on topics like the World Cup, Iran conflict, and U.S. politics may boost engagement by keeping readers returning throughout the day.
- Neutral Sentiment: Several interactive election-result pages and live news pages were published, which are typical traffic-generating products but do not by themselves signal a material financial change for NYT.
- Neutral Sentiment: Other articles covered consumer, health care, cultural, and investigative topics; these reinforce The New York Times Company’s broad editorial reach but are unlikely to move the stock on their own.
New York Times Stock Up 1.9%
NYSE:NYT opened at $74.39 on Friday. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 1.51 and a beta of 0.95. The stock’s 50 day moving average price is $78.38 and its two-hundred day moving average price is $74.89. New York Times has a 12-month low of $51.03 and a 12-month high of $87.10.
New York Times (NYSE:NYT – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.12. The company had revenue of $712.24 million for the quarter, compared to analyst estimates of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities research analysts expect that New York Times will post 2.93 EPS for the current year.
About New York Times
The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.
Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.
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