The New York Times Company (NYSE:NYT) Declares Quarterly Dividend of $0.18

Key Points

• The New York Times Company declared a quarterly dividend of $0.18 per share, to be paid to shareholders on October 23rd, reflecting a 1.2% dividend yield.
• The company's dividend payout ratio is 30.8%, indicating that earnings sufficiently cover the dividend; expected earnings for the next year are projected at $2.35 per share.
• Shares of New York Times stock increased by 0.6% during Friday's trading, reaching a price of $58.14, with an average price target set at $60.33 by analysts.

The New York Times Company (NYSE:NYT - Get Free Report) announced a quarterly dividend on Friday, September 26th, RTT News reports. Shareholders of record on Wednesday, October 8th will be paid a dividend of 0.18 per share on Thursday, October 23rd. This represents a c) annualized dividend and a dividend yield of 1.2%.

New York Times has a dividend payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect New York Times to earn $2.35 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 30.6%.

New York Times Stock Up 0.6%

Shares of NYT traded up $0.33 during trading hours on Friday, hitting $58.14. The company had a trading volume of 1,000,148 shares, compared to its average volume of 1,481,273. The firm has a market cap of $9.47 billion, a P/E ratio of 29.97, a P/E/G ratio of 1.46 and a beta of 1.16. The stock's 50 day moving average price is $57.47 and its 200 day moving average price is $54.31. New York Times has a 52-week low of $44.83 and a 52-week high of $62.24.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $670.22 million. During the same period in the previous year, the firm earned $0.45 EPS. The company's quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect that New York Times will post 2.08 EPS for the current fiscal year.

Analysts Set New Price Targets

NYT has been the topic of several analyst reports. Barclays set a $52.00 price target on New York Times and gave the company an "equal weight" rating in a report on Thursday, August 7th. Evercore ISI boosted their price target on shares of New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Guggenheim upped their price objective on New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Citigroup restated a "buy" rating on shares of New York Times in a report on Thursday, June 12th. Finally, Morgan Stanley increased their target price on New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.33.

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.

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