The New York Times Company (NYSE:NYT) to Issue $0.23 Quarterly Dividend

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Friday, June 12th. Investors of record on Wednesday, July 8th will be paid a dividend of 0.23 per share on Thursday, July 23rd. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, July 8th.

New York Times has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 7 years. New York Times has a payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $3.22 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 28.6%.

New York Times Price Performance

NYT opened at $73.87 on Monday. The business has a 50 day simple moving average of $75.25 and a 200-day simple moving average of $75.67. The stock has a market capitalization of $11.96 billion, a P/E ratio of 31.70, a P/E/G ratio of 1.53 and a beta of 0.96. New York Times has a 12 month low of $51.03 and a 12 month high of $87.10.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The firm had revenue of $712.24 million during the quarter, compared to analysts’ expectations of $699.93 million. During the same period in the previous year, the firm posted $0.41 earnings per share. New York Times’s revenue was up 12.0% on a year-over-year basis. Research analysts anticipate that New York Times will post 2.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. UBS Group set a $80.00 price target on New York Times in a report on Wednesday, June 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a report on Tuesday, April 21st. Evercore restated an “outperform” rating and issued a $92.00 target price on shares of New York Times in a research report on Thursday, May 7th. Finally, Citigroup reissued a “neutral” rating on shares of New York Times in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.22.

About New York Times

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.