The New York Times Company (NYSE:NYT) Receives $45.67 Average Target Price from Analysts

The New York Times Company (NYSE:NYT) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $45.67.

Several analysts recently issued reports on the stock. Citigroup assumed coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target on the stock. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Monday, March 4th. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th.

New York Times Price Performance

NYT opened at $43.17 on Tuesday. The stock has a market capitalization of $7.08 billion, a PE ratio of 31.06 and a beta of 1.01. The firm’s fifty day moving average price is $43.26 and its 200 day moving average price is $44.76. New York Times has a 12-month low of $35.06 and a 12-month high of $49.87.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. On average, equities research analysts forecast that New York Times will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were paid a dividend of $0.13 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 annualized dividend and a yield of 1.20%. New York Times’s payout ratio is presently 37.41%.

Insider Buying and Selling at New York Times

In other news, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares in the company, valued at $1,684,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the transaction, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. Insiders sold a total of 23,557 shares of company stock worth $1,029,968 over the last 90 days. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

Institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. bought a new position in New York Times in the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new position in New York Times in the 4th quarter valued at about $31,000. DekaBank Deutsche Girozentrale bought a new position in New York Times in the 3rd quarter valued at about $37,000. TFO Wealth Partners LLC grew its position in New York Times by 84,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after buying an additional 2,521 shares in the last quarter. Finally, Covestor Ltd grew its position in New York Times by 9.6% in the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after buying an additional 232 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Company Profile

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.