New York Times (NYSE:NYT) Reaches New 12-Month High – Here’s Why

The New York Times Company (NYSE:NYT) hit a new 52-week high on Monday . The stock traded as high as $72.83 and last traded at $72.4740, with a volume of 33303 shares traded. The stock had previously closed at $72.26.

Key New York Times News

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: 247WallStreet says NYT “turns out to be a good investment” as other legacy media scale back — highlights the Washington Post’s decision to cut Olympic on-site coverage and argues NYT’s subscription model and scale give it a competitive edge. New York Times Turns Out to Be a Good Investment as Media Falls Apart
• Neutral Sentiment: Coverage of ongoing national/security stories (Minneapolis/federal immigration enforcement) will likely sustain high engagement; hard news drives subscription retention and trial conversions. Far from Minneapolis, Memphis Remains Under a Different Federal Crackdown
• Neutral Sentiment: Sports and event-focused guides (Super Bowl 60 preview) generate predictable traffic spikes and advertising/sponsorship opportunities around major events. What to know about Super Bowl 60: Patriots-Seahawks history, halftime show and more
• Neutral Sentiment: Large weather events (multi-state winter storm, travel disruptions) are driving real-time live coverage and likely temporary traffic/engagement gains. Winter Storm Disrupts Air Travel Plans for Thousands on Monday
• Neutral Sentiment: Wide range of culture and arts pieces keep NYT’s lifestyle and arts audiences engaged — steady content mix helps subscription cross-sell but is not a singular catalyst. For This Influencer, Rejection Is the New Perfection
• Negative Sentiment: Valuation and liquidity considerations: NYT trades at a relatively rich P/E (~35) and intraday volume is well below average, which can amplify moves and limit near-term upside if growth disappoints.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NYT. Barclays upped their price target on shares of New York Times from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, January 20th. Morgan Stanley set a $68.00 price target on shares of New York Times in a research note on Thursday, December 18th. Evercore ISI reissued an “outperform” rating on shares of New York Times in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their target price on New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Finally, Citigroup raised their price target on New York Times from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.43.

New York Times Stock Performance

The stock has a fifty day moving average price of $68.22 and a 200-day moving average price of $61.14. The firm has a market capitalization of $11.72 billion, a PE ratio of 35.24, a P/E/G ratio of 1.58 and a beta of 1.12.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. New York Times had a net margin of 12.29% and a return on equity of 20.30%. The business had revenue of $700.82 million during the quarter, compared to analyst estimates of $692.01 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, January 6th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, January 6th. New York Times’s payout ratio is currently 35.12%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in New York Times by 4.6% in the third quarter. Wellington Management Group LLP now owns 4,769,973 shares of the company’s stock worth $273,796,000 after acquiring an additional 209,616 shares in the last quarter. AQR Capital Management LLC boosted its stake in New York Times by 10.2% in the 3rd quarter. AQR Capital Management LLC now owns 4,613,289 shares of the company’s stock worth $264,803,000 after purchasing an additional 425,401 shares in the last quarter. Geode Capital Management LLC boosted its stake in New York Times by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,826,905 shares of the company’s stock worth $214,257,000 after purchasing an additional 46,249 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in New York Times by 1.9% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,368,819 shares of the company’s stock worth $132,606,000 after purchasing an additional 43,595 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of New York Times by 26.5% in the second quarter. Acadian Asset Management LLC now owns 2,232,830 shares of the company’s stock worth $124,973,000 after buying an additional 467,492 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.