ValuEngine lowered shares of New York Times (NYSE:NYT) from a hold rating to a sell rating in a research note released on Monday, ValuEngine reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded New York Times from a sell rating to a hold rating and set a $32.00 price target for the company in a research report on Wednesday, October 23rd. Evercore ISI set a $38.00 price target on New York Times and gave the company a buy rating in a research report on Wednesday, August 7th. Finally, Guggenheim began coverage on New York Times in a research report on Wednesday, October 9th. They issued a neutral rating and a $27.50 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $34.63.

Shares of NYSE:NYT traded up $0.76 during midday trading on Monday, reaching $30.97. The company had a trading volume of 868,242 shares, compared to its average volume of 1,945,867. New York Times has a 1-year low of $21.34 and a 1-year high of $36.25. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 38.23 and a beta of 1.15. The company has a fifty day simple moving average of $29.68 and a two-hundred day simple moving average of $31.81.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. New York Times had a return on equity of 13.40% and a net margin of 7.55%. The business had revenue of $428.50 million during the quarter, compared to analyst estimates of $428.35 million. During the same quarter last year, the company posted $0.15 EPS. New York Times’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that New York Times will post 0.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Wednesday, October 2nd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Tuesday, October 1st. New York Times’s dividend payout ratio is currently 24.69%.

A number of institutional investors have recently made changes to their positions in the stock. Trillium Asset Management LLC purchased a new stake in New York Times in the 3rd quarter worth about $12,764,000. Northwestern Mutual Investment Management Company LLC lifted its stake in New York Times by 1.1% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 40,982 shares of the company’s stock worth $1,167,000 after acquiring an additional 464 shares in the last quarter. HGI Capital Management LLC lifted its stake in New York Times by 28.6% in the 3rd quarter. HGI Capital Management LLC now owns 13,500 shares of the company’s stock worth $384,000 after acquiring an additional 3,000 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new stake in New York Times in the 3rd quarter worth about $57,000. Finally, Symmetry Partners LLC purchased a new stake in New York Times in the 3rd quarter worth about $264,000. 91.25% of the stock is owned by hedge funds and other institutional investors.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers 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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