The New York Times Company (NYSE:NYT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of The New York Times Company (NYSE:NYT) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $54.83.

NYT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th.

New York Times Price Performance

Shares of NYSE:NYT opened at $53.19 on Friday. The company has a market capitalization of $8.72 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.75 and a beta of 1.00. The business’s 50 day simple moving average is $54.46 and its 200 day simple moving average is $53.85. New York Times has a 1 year low of $41.55 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same period in the prior year, the firm posted $0.37 EPS. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that New York Times will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, January 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Investors Weigh In On New York Times

Several hedge funds have recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its stake in shares of New York Times by 4.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock valued at $260,000 after purchasing an additional 193 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in New York Times by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after buying an additional 247 shares during the period. KBC Group NV grew its holdings in New York Times by 0.4% during the 3rd quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after acquiring an additional 308 shares during the last quarter. Hixon Zuercher LLC grew its holdings in New York Times by 2.9% during the 3rd quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after acquiring an additional 354 shares during the last quarter. Finally, UMB Bank n.a. increased its position in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.