New York Times (NYSE:NYT) Hits New 12-Month High – Here’s What Happened

The New York Times Company (NYSE:NYTGet Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $74.27 and last traded at $73.8460, with a volume of 51833 shares changing hands. The stock had previously closed at $72.94.

More New York Times News

Here are the key news stories impacting New York Times this week:

Analyst Ratings Changes

NYT has been the subject of a number of analyst reports. Barclays upped their price objective on New York Times from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 20th. Evercore reiterated an “outperform” rating on shares of New York Times in a report on Thursday, February 5th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a report on Thursday, January 22nd. Citigroup cut their price objective on shares of New York Times from $81.00 to $77.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, Guggenheim set a $63.00 target price on shares of New York Times and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.43.

View Our Latest Analysis on NYT

New York Times Stock Up 0.3%

The firm has a market cap of $11.88 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 2.25 and a beta of 1.11. The stock has a 50 day moving average price of $70.53 and a two-hundred day moving average price of $63.17.

New York Times (NYSE:NYTGet Free Report) last released its earnings results on Wednesday, February 4th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. New York Times had a net margin of 12.18% and a return on equity of 21.02%. The company had revenue of $802.31 million during the quarter, compared to analysts’ expectations of $791.55 million. During the same period last year, the business earned $0.80 EPS. New York Times’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Wednesday, April 1st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.18. New York Times’s payout ratio is currently 34.45%.

Institutional Trading of New York Times

Several large investors have recently added to or reduced their stakes in the company. Navalign LLC acquired a new position in shares of New York Times in the fourth quarter valued at about $25,000. Employees Retirement System of Texas purchased a new stake in New York Times in the second quarter valued at approximately $28,000. Hantz Financial Services Inc. increased its holdings in New York Times by 4,591.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after buying an additional 551 shares during the period. True Wealth Design LLC increased its holdings in New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock worth $32,000 after buying an additional 478 shares during the period. Finally, Cornerstone Planning Group LLC raised its position in New York Times by 74.2% during the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock worth $32,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

About New York Times

(Get Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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