The New York Times Company (NYSE:NYT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of The New York Times Company (NYSE:NYTGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $81.6667.

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $95.00 price objective on shares of New York Times in a research report on Thursday, May 7th. Morgan Stanley set a $90.00 price objective on shares of New York Times in a research report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research report on Tuesday, April 21st. Barclays raised their price objective on shares of New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th.

Check Out Our Latest Analysis on NYT

Insider Activity

In other news, EVP William Bardeen sold 4,121 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jacqueline M. Welch sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president owned 23,873 shares of the company’s stock, valued at $1,769,944.22. This trade represents a 14.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,121 shares of company stock worth $1,310,920. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On New York Times

A number of large investors have recently modified their holdings of NYT. Quantbot Technologies LP lifted its position in New York Times by 233.4% during the third quarter. Quantbot Technologies LP now owns 63,083 shares of the company’s stock valued at $3,621,000 after purchasing an additional 44,161 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in New York Times by 28.4% during the third quarter. Envestnet Asset Management Inc. now owns 142,642 shares of the company’s stock valued at $8,188,000 after purchasing an additional 31,507 shares during the last quarter. Intech Investment Management LLC lifted its position in New York Times by 143.6% during the third quarter. Intech Investment Management LLC now owns 232,445 shares of the company’s stock valued at $13,342,000 after purchasing an additional 137,037 shares during the last quarter. Long Corridor Asset Management Ltd lifted its position in New York Times by 14.5% during the third quarter. Long Corridor Asset Management Ltd now owns 157,500 shares of the company’s stock valued at $9,040,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in New York Times by 21.3% during the third quarter. Bahl & Gaynor Inc. now owns 97,265 shares of the company’s stock valued at $5,583,000 after purchasing an additional 17,080 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Stock Up 2.0%

NYT opened at $76.79 on Friday. The company has a market capitalization of $12.43 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.59 and a beta of 0.95. The firm has a 50-day moving average price of $79.14 and a 200-day moving average price of $74.53. New York Times has a twelve month low of $51.03 and a twelve month high of $87.10.

New York Times (NYSE:NYTGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.12. The firm had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share. On average, sell-side analysts expect that New York Times will post 2.93 earnings per share for the current fiscal year.

New York Times News Roundup

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

About New York Times

(Get Free Report)

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.

Further Reading

Analyst Recommendations for New York Times (NYSE:NYT)

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