The New York Times Company (NYT) To Go Ex-Dividend on July 9th

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, June 27th, RTT News reports. Investors of record on Tuesday, July 9th will be paid a dividend of 0.13 per share on Thursday, July 25th. This represents a $0.52 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, July 9th.

New York Times has raised its dividend by an average of 22.2% per year over the last three years. New York Times has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $1.97 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 26.4%.

New York Times Stock Performance

Shares of NYT opened at $51.21 on Friday. The stock has a fifty day moving average price of $48.40 and a two-hundred day moving average price of $46.36. New York Times has a 52-week low of $39.28 and a 52-week high of $51.98. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 34.14 and a beta of 1.05.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The firm had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts predict that New York Times will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NYT shares. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, March 4th. Evercore ISI boosted their target price on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Citigroup began coverage on New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.71.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the sale, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the sale, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the sale, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.