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

The New York Times Company (NYSE:NYT) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $52.71.

Several analysts have recently commented on NYT shares. Barclays raised their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on New York Times in a research note on Wednesday, October 9th. They issued a “buy” rating and a $65.00 target price for the company.

Insiders Place Their Bets

In other New York Times news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other 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 transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Trading of New York Times

Institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. lifted its holdings in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the period. GAMMA Investing LLC increased its stake in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares in the last quarter. Signaturefd LLC increased its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. increased its stake in shares of New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in shares of New York Times during the third quarter valued at approximately $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 0.9 %

Shares of NYSE:NYT opened at $55.92 on Tuesday. The firm has a market cap of $9.19 billion, a P/E ratio of 37.28 and a beta of 1.03. New York Times has a 12-month low of $39.73 and a 12-month high of $56.49. The business has a fifty day simple moving average of $54.51 and a 200 day simple moving average of $50.76.

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

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a $0.13 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.93%. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

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.