New York Times (NYSE:NYT)‘s stock had its “hold” rating reaffirmed by Zacks Investment Research in a note issued to investors on Wednesday.

According to Zacks, “The New York Times Company’s strategic initiatives have helped the stock to rise and outpace the industry in the past six months. The company is diversifying its business, adding new revenue streams, strengthening its balance sheet and restructuring its portfolio. It had offloaded assets in order to re-focus on its core newspapers and pay more attention to its online activities. The company has emerged from being a sole provider of news content and advertising on print publications. These efforts have helped the company to post third straight quarter of positive earnings and revenue surprises, when it reported second-quarter 2018 results. Certainly, soft advertising revenue, primarily the print, remain a headwind. Management expects total advertising revenue to decline in the low-single digits in the third quarter. Moreover, the recent fall in the number of users signing up for digital subscriptions also raise concern.”

Several other research analysts also recently weighed in on NYT. Barclays downgraded shares of New York Times from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $18.00 in a research note on Tuesday, November 6th. They noted that the move was a valuation call. ValuEngine raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of New York Times to $32.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.33.

Shares of NYT stock opened at $26.50 on Wednesday. New York Times has a twelve month low of $17.25 and a twelve month high of $28.72. The stock has a market capitalization of $4.35 billion, a P/E ratio of 33.13, a PEG ratio of 3.88 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.94.

New York Times (NYSE:NYT) last announced its earnings results on Thursday, November 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. New York Times had a net margin of 0.79% and a return on equity of 15.14%. The firm had revenue of $417.30 million during the quarter, compared to the consensus estimate of $409.80 million. During the same quarter in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts expect that New York Times will post 0.79 EPS for the current year.

In other news, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $22.86, for a total transaction of $2,057,400.00. Following the completion of the transaction, the insider now owns 8,247,175 shares of the company’s stock, valued at approximately $188,530,420.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Denham sold 3,492 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $27.84, for a total transaction of $97,217.28. Following the transaction, the director now directly owns 45,237 shares of the company’s stock, valued at approximately $1,259,398.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,492 shares of company stock valued at $2,961,437. Corporate insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. CSat Investment Advisory L.P. acquired a new stake in New York Times during the 2nd quarter worth approximately $120,000. Adviser Investments LLC acquired a new stake in New York Times during the 2nd quarter worth approximately $190,000. D.A. Davidson & CO. acquired a new stake in New York Times during the 2nd quarter worth approximately $201,000. Tower Research Capital LLC TRC increased its position in New York Times by 296.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,322 shares of the company’s stock worth $193,000 after purchasing an additional 6,221 shares in the last quarter. Finally, Man Group plc acquired a new stake in New York Times during the 3rd quarter worth approximately $204,000. 89.65% of the stock is owned by institutional investors.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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