The New York Times Company (NYSE:NYT) Receives $60.33 Consensus PT from Analysts

Key Points

• The New York Times Company has received a consensus rating of "Moderate Buy" from seven brokerages, with an average 12-month price target of $60.33.
• Recent insider activity includes EVP William Bardeen and EVP Jacqueline M. Welch selling a total of 10,500 shares, resulting in a significant decrease in their ownership of the stock.
• New York Times reported a 9.7% increase in revenue year-over-year, with earnings per share of $0.58 for the last quarter, surpassing analyst expectations.

The New York Times Company (NYSE:NYT - Get Free Report) has received an average rating of "Moderate Buy" from the seven brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.3333.

Several research firms recently commented on NYT. Citigroup restated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th. Morgan Stanley raised their price objective on New York Times from $54.00 to $59.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Barclays set a $52.00 price objective on New York Times and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Guggenheim lifted their target price on shares of New York Times from $55.00 to $56.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Evercore ISI lifted their target price on shares of New York Times from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Friday, August 8th.

Insider Transactions at New York Times

In related news, EVP William Bardeen sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total transaction of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. The trade was a 30.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jacqueline M. Welch sold 5,500 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. The trade was a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On New York Times

A number of institutional investors and hedge funds have recently bought and sold shares of NYT. Covestor Ltd boosted its holdings in shares of New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company's stock valued at $141,000 after acquiring an additional 208 shares during the period. MAI Capital Management raised its stake in shares of New York Times by 7.2% during the second quarter. MAI Capital Management now owns 3,516 shares of the company's stock valued at $197,000 after purchasing an additional 236 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of New York Times by 3.5% during the second quarter. ProShare Advisors LLC now owns 7,195 shares of the company's stock valued at $403,000 after purchasing an additional 243 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of New York Times by 0.5% during the second quarter. Public Employees Retirement System of Ohio now owns 54,815 shares of the company's stock valued at $3,069,000 after purchasing an additional 271 shares in the last quarter. Finally, Valueworks LLC raised its stake in shares of New York Times by 0.3% during the first quarter. Valueworks LLC now owns 88,939 shares of the company's stock valued at $4,411,000 after purchasing an additional 278 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Performance

Shares of New York Times stock traded down $0.19 during trading on Friday, hitting $59.00. 802,807 shares of the company's stock were exchanged, compared to its average volume of 1,500,644. The business has a 50-day simple moving average of $56.71 and a 200-day simple moving average of $53.31. New York Times has a 52-week low of $44.83 and a 52-week high of $62.24. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.49 and a beta of 1.16.

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

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Wednesday, July 9th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. New York Times's payout ratio is presently 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.