Analysts Set The New York Times Company (NYSE:NYT) Price Target at $46.71

Shares of The New York Times Company (NYSE:NYTGet Free Report) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.71.

A number of equities research analysts have weighed in on NYT shares. Evercore ISI upped their price objective on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, March 4th. Citigroup initiated coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th.

View Our Latest Stock Report on NYT

Insider Activity

In related news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total value of $253,275.58. Following the sale, the chief accounting officer now owns 38,576 shares in the company, valued at $1,889,452.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.72, for a total value of $598,790.56. Following the sale, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of the sale, the chief accounting officer now owns 38,576 shares in the company, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Contravisory Investment Management Inc. bought a new position in New York Times in the fourth quarter worth approximately $27,000. GAMMA Investing LLC bought a new position in New York Times in the fourth quarter worth approximately $31,000. DekaBank Deutsche Girozentrale bought a new position in New York Times in the third quarter worth approximately $37,000. TFO Wealth Partners LLC raised its position in New York Times by 84,033.3% in the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after acquiring an additional 2,521 shares during the period. Finally, Covestor Ltd raised its position in New York Times by 9.6% in the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after acquiring an additional 232 shares during the period. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

NYT stock opened at $49.90 on Wednesday. New York Times has a 1 year low of $36.92 and a 1 year high of $51.98. The company has a market cap of $8.20 billion, a P/E ratio of 33.27 and a beta of 1.05. The firm has a 50-day moving average of $47.12 and a 200 day moving average of $46.17.

New York Times (NYSE:NYTGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. The company had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. New York Times’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 earnings per share. On average, equities research analysts expect that New York Times will post 1.77 earnings per share for the current fiscal year.

About New York Times

(Get Free Report

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.

Further Reading

Analyst Recommendations for New York Times (NYSE:NYT)

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