The New York Times Co. (NYT) Sees Strong Trading Volume
Shares of The New York Times Co. (NYSE:NYT) saw an uptick in trading volume on Friday . 1,307,570 shares were traded during 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 brokerages have commented on NYT. Zacks Investment Research cut shares of The New York Times from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 price target on shares of The New York Times in a research report on Friday, July 29th. Argus reaffirmed a “hold” rating on shares of The New York Times in a research report on Monday, May 16th. Finally, TheStreet raised shares of The New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The New York Times has an average rating of “Hold” and an average price target of $13.60.
The company has a market cap of $2.10 billion and a PE ratio of 40.28. The firm’s 50-day moving average is $12.71 and its 200 day moving average 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, meeting the Thomson Reuters’ consensus estimate of $0.11. The company had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. Equities research analysts forecast that The New York Times Co. will post $0.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 28th. Investors of record on Wednesday, July 13th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, July 11th.
In related news, SVP R Anthony Benten sold 14,464 shares of The New York Times stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $12.06, for a total value of $174,435.84. Following the transaction, the senior vice president now owns 36,929 shares in the company, valued at approximately $445,363.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
A hedge fund recently raised its stake in The New York Times stock. Dimensional Fund Advisors LP raised its position in The New York Times Co. (NYSE:NYT) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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 2.54% of The New York Times worth $55,284,000 as of its most recent filing with the SEC.
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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