The New York Times Co. (NYSE:NYT) Given Consensus Rating of “Hold” by Brokerages
Shares of The New York Times Co. (NYSE:NYT) have received a consensus rating of “Hold” from the six research firms that are currently covering the firm. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.47.
Several analysts have recently commented on NYT shares. Zacks Investment Research cut The New York Times from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Group reaffirmed a “hold” rating and set a $13.00 price target on shares of The New York Times in a research note on Friday, July 29th. Finally, TheStreet raised The New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th.
Shares of The New York Times (NYSE:NYT) traded down 0.877% during trading on Friday, reaching $11.865. The company had a trading volume of 390,074 shares. The New York Times has a 52-week low of $11.45 and a 52-week high of $14.27. The firm has a market capitalization of $1.91 billion, a P/E ratio of 36.620 and a beta of 1.62. The company has a 50 day moving average of $12.57 and a 200-day moving average of $12.46.
The New York Times (NYSE:NYT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The New York Times had a return on equity of 13.70% and a net margin of 3.36%. The firm had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that The New York Times will post $0.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, October 3rd. The New York Times’s dividend payout ratio is currently 50.00%.
In other news, EVP Kenneth A. Richieri sold 24,942 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $12.95, for a total transaction of $322,998.90. Following the sale, the executive vice president now owns 50,203 shares of the company’s stock, valued at $650,128.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Levien Meredith A. Kopit sold 26,728 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $13.06, for a total value of $349,067.68. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC raised its stake in The New York Times by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 21,284 shares of the company’s stock worth $258,000 after buying an additional 109 shares in the last quarter. Mason Street Advisors LLC purchased a new position in The New York Times during the second quarter worth about $680,000. Public Employees Retirement System of Ohio increased its position in The New York Times by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 8,226 shares of the company’s stock worth $100,000 after buying an additional 517 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in The New York Times by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 622,321 shares of the company’s stock worth $7,531,000 after buying an additional 15,585 shares during the last quarter. Finally, Stifel Financial Corp increased its position in The New York Times by 61.7% in the second quarter. Stifel Financial Corp now owns 101,171 shares of the company’s stock worth $1,224,000 after buying an additional 38,594 shares during the last quarter. 62.86% of the stock is currently owned by institutional investors.
The New York Times Company Profile
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.
Receive News & Stock Ratings for The New York Times Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The New York Times Co. and related stocks with our FREE daily email newsletter.