The New York Times Co. (NYT) Sees Strong Trading Volume
The New York Times Co. (NYSE:NYT) saw strong trading volume on Friday . 1,307,570 shares were traded during mid-day trading, an increase of 95% from the previous session’s volume of 669,004 shares.The stock last traded at $13.05 and had previously closed at $12.94.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded The New York Times from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, July 12th. Argus restated a “hold” rating on shares of The New York Times in a research note on Monday, May 16th. TheStreet lowered The New York Times from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Jefferies Group restated a “hold” rating and issued a $13.00 target price on shares of The New York Times in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.60.
The company has a market capitalization of $2.10 billion and a price-to-earnings ratio of 40.28. The firm’s 50-day moving average price is $12.71 and its 200-day moving average price is $12.48.
The New York Times (NYSE:NYT) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities research analysts expect that The New York Times Co. will post $0.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 28th. Investors of record on Wednesday, July 13th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.23%.
In related news, SVP R Anthony Benten sold 14,464 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $12.06, for a total transaction of $174,435.84. Following the completion of the transaction, the senior vice president now owns 36,929 shares in the company, valued at $445,363.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in The New York Times stock. Dimensional Fund Advisors LP boosted its position in The New York Times Co. (NYSE:NYT) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,119,470 shares of the company’s stock after buying an additional 169,447 shares during the period. Dimensional Fund Advisors LP owned about 2.54% of The New York Times worth $55,284,000 at the end of the most recent reporting period.
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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