The New York Times Company (NYSE:NYT) Receives $54.83 Consensus Target Price from Analysts

Shares of The New York Times Company (NYSE:NYT) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $54.83.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays upped their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Oak Family Advisors LLC grew its stake in shares of New York Times by 2.2% in the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after buying an additional 231 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in New York Times by 2.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after acquiring an additional 247 shares during the period. KBC Group NV grew its position in New York Times by 0.4% in the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock valued at $4,226,000 after acquiring an additional 308 shares in the last quarter. Hixon Zuercher LLC raised its stake in shares of New York Times by 2.9% during the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after purchasing an additional 354 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Trading Down 3.2 %

New York Times stock opened at $52.46 on Friday. The stock has a fifty day moving average price of $54.85 and a 200 day moving average price of $52.60. New York Times has a 52 week low of $41.55 and a 52 week high of $57.08. The firm has a market capitalization of $8.62 billion, a P/E ratio of 31.31, a PEG ratio of 1.73 and a beta of 1.02.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. As a group, equities analysts predict that New York Times will post 1.84 EPS for the current year.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. New York Times’s dividend payout ratio (DPR) is 30.77%.

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.