Analysts Set The New York Times Company (NYSE:NYT) PT at $50.67

Shares of The New York Times Company (NYSE:NYT) have received a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $50.67.

NYT has been the topic of several recent research reports. Barclays increased their target price on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th.

Insider Activity

In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of institutional investors have recently added to or reduced their stakes in NYT. Brown Financial Advisors purchased a new stake in shares of New York Times in the 2nd quarter worth about $760,000. Creative Planning grew its stake in shares of New York Times by 9.6% in the 2nd quarter. Creative Planning now owns 10,383 shares of the company’s stock worth $532,000 after buying an additional 912 shares during the last quarter. Algert Global LLC increased its holdings in shares of New York Times by 17.2% during the second quarter. Algert Global LLC now owns 106,623 shares of the company’s stock valued at $5,460,000 after acquiring an additional 15,655 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of New York Times by 143.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 154,210 shares of the company’s stock worth $7,897,000 after purchasing an additional 90,814 shares during the last quarter. Finally, Darsana Capital Partners LP boosted its stake in New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.1 %

NYT opened at $54.49 on Friday. The business’s fifty day simple moving average is $53.95 and its 200 day simple moving average is $49.46. New York Times has a 52 week low of $39.73 and a 52 week high of $56.49. The stock has a market cap of $8.95 billion, a PE ratio of 36.33 and a beta of 1.03.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. New York Times’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. As a group, equities analysts anticipate that New York Times will post 1.9 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is currently 34.67%.

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.