New York Times (NYSE:NYT) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of New York Times (NYSE:NYT) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also commented on NYT. Evercore restated an “outperform” rating and set a $92.00 price target on shares of New York Times in a research note on Thursday, May 7th. Zacks Research raised shares of New York Times from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Barclays dropped their target price on shares of New York Times from $66.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $95.00 target price on shares of New York Times in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $90.00 price target on shares of New York Times in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, New York Times presently has an average rating of “Moderate Buy” and a consensus price target of $82.89.

New York Times Stock Up 1.9%

Shares of NYSE:NYT opened at $64.76 on Friday. New York Times has a 52-week low of $54.10 and a 52-week high of $87.10. The stock has a market cap of $10.48 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The business’s 50 day moving average is $73.03 and its 200 day moving average is $76.12.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, August 5th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. New York Times had a return on equity of 22.64% and a net margin of 13.19%.The business had revenue of $762.46 million during the quarter, compared to analyst estimates of $752.01 million. During the same period in the previous year, the company posted $0.58 EPS. New York Times’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts anticipate that New York Times will post 2.92 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th were issued a $0.23 dividend. The ex-dividend date was Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.4%. New York Times’s dividend payout ratio (DPR) is currently 38.33%.

Insider Activity at New York Times

In related news, EVP Jacqueline M. Welch sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the sale, the executive vice president directly owned 23,873 shares in the company, valued at $1,769,944.22. This represents a 14.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of large investors have recently added to or reduced their stakes in the company. Basecamp Wealth Advisors LLC boosted its holdings in shares of New York Times by 1,191.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock valued at $26,000 after buying an additional 286 shares in the last quarter. Navalign LLC bought a new position in shares of New York Times during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its position in New York Times by 74.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after acquiring an additional 190 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in New York Times during the fourth quarter valued at approximately $32,000. Finally, SJS Investment Consulting Inc. boosted its stake in New York Times by 313.9% in the first quarter. SJS Investment Consulting Inc. now owns 567 shares of the company’s stock valued at $47,000 after acquiring an additional 430 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Key Stories Impacting New York Times

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

• Positive Sentiment: Youth and lifestyle engagement: Features on how Shania Twain won over Gen Z and the Hallmark Channel’s enduring appeal could help attract younger and broader audiences to the Times’ culture and lifestyle content. How Shania Twain Won Over Gen Z What the Hallmark Channel Knows About Love
• Positive Sentiment: Sports product breadth: Coverage of the ATP’s younger players, the Mets’ outlook and emerging track talent reinforces the reach of NYT’s sports journalism and The Athletic, supporting the value of its broader subscription bundle. A 2000s tennis takeover at the Canadian Open This Week in Mets
• Neutral Sentiment: Global and U.S. news coverage: Articles address Pakistan’s extreme heat, Lake Mead’s record-low level, Taiwan defense, Iran and Hezbollah, Gaza, U.S. weapons stockpiles and Trump administration appointments. This supports NYT’s core-news relevance but carries no immediate financial implication. Extreme Heat Comes for the Red Chile Capital of Pakistan Lake Mead Is Smaller Than Ever
• Neutral Sentiment: Political and opinion content: Coverage of Democratic strategy, Michigan and Hawaii elections, immigration-related politics, medical access and changing subcultures may drive readership and discussion, but is unlikely to alter near-term fundamentals. Why Don’t Cures Get to Patients?
• Neutral Sentiment: No fresh operating update: The articles contain no new information on advertising, digital subscriptions, pricing, profitability or management guidance. Investors are therefore more likely to focus on the company’s latest earnings performance and valuation than on these individual stories.

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.