Analysts Set The New York Times Company (NYSE:NYT) Price Target at $56.00

Shares of The New York Times Company (NYSE:NYT) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $56.00.

A number of equities research analysts have weighed in on NYT shares. Morgan Stanley cut their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th.

New York Times Price Performance

Shares of NYSE NYT opened at $48.92 on Friday. New York Times has a 1 year low of $41.55 and a 1 year high of $58.16. The company’s 50-day moving average is $50.52 and its 200 day moving average is $53.05. The stock has a market capitalization of $7.99 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Research analysts anticipate that New York Times will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is currently 40.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after purchasing an additional 394 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in New York Times during the fourth quarter valued at approximately $36,000. UMB Bank n.a. lifted its position in New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after purchasing an additional 283 shares during the period. Smartleaf Asset Management LLC lifted its position in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after purchasing an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its position in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after purchasing an additional 212 shares during the period. Institutional investors 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.