The New York Times Company (NYSE:NYT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of The New York Times Company (NYSE:NYTGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $83.2222.

NYT has been the topic of a number of recent research reports. Bank of America cut their price target on New York Times from $87.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. Evercore reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of New York Times in a research note on Thursday, May 7th. UBS Group set a $80.00 price objective on shares of New York Times in a report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $74.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of New York Times in a report on Tuesday, April 21st.

Check Out Our Latest Analysis on NYT

New York Times News Summary

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

New York Times Stock Performance

Shares of NYSE:NYT opened at $73.80 on Thursday. New York Times has a 52-week low of $51.03 and a 52-week high of $87.10. The company has a market capitalization of $11.95 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.53 and a beta of 0.96. The company has a fifty day moving average of $75.10 and a 200-day moving average of $75.71.

New York Times (NYSE:NYTGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.12. The company had revenue of $712.24 million for the quarter, compared to the consensus estimate of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.New York Times’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. On average, equities analysts forecast that New York Times will post 2.93 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Wednesday, July 8th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, July 8th. New York Times’s dividend payout ratio is presently 39.48%.

Insider Buying and Selling

In other New York Times news, Director David S. Perpich sold 9,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.06, for a total value of $693,540.00. Following the sale, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. The trade was a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP William Bardeen sold 4,121 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the sale, the executive vice president directly owned 14,560 shares of the company’s stock, valued at approximately $1,133,496. The trade was a 22.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,121 shares of company stock valued at $1,310,920 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Trading of New York Times

Several institutional investors have recently added to or reduced their stakes in NYT. Pinnacle Wealth Management Advisory Group LLC raised its holdings in New York Times by 4.2% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,366 shares of the company’s stock worth $282,000 after purchasing an additional 135 shares during the last quarter. Andina Capital Management LLC raised its position in New York Times by 1.7% in the 4th quarter. Andina Capital Management LLC now owns 8,814 shares of the company’s stock valued at $612,000 after buying an additional 147 shares during the last quarter. Jackson Thornton Wealth Management LLC raised its holdings in shares of New York Times by 3.5% in the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,355 shares of the company’s stock valued at $302,000 after purchasing an additional 148 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of New York Times by 34.4% during the first quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock valued at $58,000 after purchasing an additional 176 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in New York Times by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 17,944 shares of the company’s stock worth $1,246,000 after purchasing an additional 189 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Company Profile

(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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Analyst Recommendations for New York Times (NYSE:NYT)

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