Analysts Set The New York Times Company (NYSE:NYT) PT at $63.57

The New York Times Company (NYSE:NYT) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $63.5714.

Several brokerages have recently commented on NYT. Morgan Stanley raised their price target on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating on shares of New York Times in a report on Thursday, November 6th. Zacks Research lowered shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Barclays upped their price target on shares of New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, November 6th.

Insider Transactions at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the sale, the executive vice president directly owned 14,470 shares in the company, valued at approximately $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New York Times

A number of large investors have recently modified their holdings of the business. First Citizens Bank & Trust Co. raised its stake in New York Times by 264.0% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock worth $949,000 after acquiring an additional 12,294 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in New York Times by 49.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock valued at $10,957,000 after purchasing an additional 65,175 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of New York Times by 154.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock valued at $3,685,000 after purchasing an additional 39,149 shares during the period. Element Capital Management LLC purchased a new position in shares of New York Times in the first quarter worth about $2,742,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of New York Times by 29.2% during the second quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock worth $1,725,000 after purchasing an additional 6,957 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Up 0.9%

NYT opened at $64.08 on Wednesday. The business has a fifty day moving average of $58.29 and a 200 day moving average of $56.88. The stock has a market cap of $10.40 billion, a P/E ratio of 33.03, a PEG ratio of 1.41 and a beta of 1.14. New York Times has a 52-week low of $44.83 and a 52-week high of $65.14.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The business had revenue of $700.82 million during the quarter, compared to the consensus estimate of $692.01 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. Equities analysts anticipate that New York Times will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. New York Times’s dividend payout ratio is presently 35.12%.

About New York Times

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.