The New York Times Company (NYSE:NYT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The New York Times Company (NYSE:NYT) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.83.

Several research firms have recently issued reports on NYT. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

New York Times Stock Performance

Shares of NYSE NYT opened at $56.23 on Wednesday. The business’s 50-day simple moving average is $54.78 and its 200-day simple moving average is $53.47. New York Times has a 52 week low of $41.55 and a 52 week high of $57.08. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 1.73 and a beta of 1.00.

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

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of New York Times

A number of hedge funds have recently modified their holdings of NYT. Darsana Capital Partners LP increased its stake in New York Times by 25.0% during 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. Renaissance Technologies LLC boosted its holdings in shares of New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after buying an additional 482,200 shares during the period. Dimensional Fund Advisors LP increased its position in shares of New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of New York Times by 582.1% during the third quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock worth $20,110,000 after acquiring an additional 308,277 shares during the period. Finally, Bank of Montreal Can lifted its position in New York Times by 964.9% in the 2nd quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock valued at $13,637,000 after acquiring an additional 241,093 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

About New York Times

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.