The New York Times Company (NYSE:NYT) Given Average Rating of "Moderate Buy" by Brokerages

The New York Times Company (NYSE:NYT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $60.3333.

A number of equities research analysts have recently issued reports on NYT shares. Evercore ISI upped their price objective on New York Times from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Citigroup reiterated a "buy" rating on shares of New York Times in a research note on Thursday, June 12th. Barclays set a $52.00 target price on New York Times and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Morgan Stanley boosted their target price on New York Times from $54.00 to $59.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Guggenheim boosted their target price on New York Times from $55.00 to $56.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th.

Insider Buying and Selling at New York Times

In other New York Times news, Director David S. Perpich sold 4,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.18, for a total value of $224,720.00. Following the transaction, the director directly owned 27,569 shares of the company's stock, valued at $1,548,826.42. This represents a 12.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the transaction, the chief accounting officer directly owned 39,685 shares in the company, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,490 shares of company stock valued at $769,928 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Times

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of New York Times by 109.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,373 shares of the company's stock valued at $1,259,000 after acquiring an additional 13,248 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of New York Times during the 1st quarter worth $250,000. Centiva Capital LP lifted its position in shares of New York Times by 58.6% during the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock worth $1,875,000 after buying an additional 13,311 shares during the last quarter. State of Alaska Department of Revenue lifted its position in shares of New York Times by 164.0% during the 1st quarter. State of Alaska Department of Revenue now owns 49,119 shares of the company's stock worth $2,436,000 after buying an additional 30,515 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of New York Times by 123.2% during the 1st quarter. Victory Capital Management Inc. now owns 178,956 shares of the company's stock worth $8,876,000 after buying an additional 98,789 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Trading Down 0.4%

Shares of New York Times stock traded down $0.22 on Monday, reaching $60.40. 748,098 shares of the company were exchanged, compared to its average volume of 1,798,146. New York Times has a one year low of $44.83 and a one year high of $62.24. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.46 and a beta of 1.09. The company has a 50-day moving average of $55.20 and a 200 day moving average of $52.32.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. New York Times had a return on equity of 19.55% and a net margin of 11.92%. The company had revenue of $685.90 million for the quarter, compared to analysts' expectations of $670.22 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business's revenue was up 9.7% compared to the same quarter last year. Analysts predict that New York Times will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Shareholders of record on Wednesday, July 9th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, July 9th. New York Times's dividend payout ratio is currently 37.11%.

New York Times Company Profile

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.