The New York Times Company (NYSE:NYT) Receives $56.00 Consensus Target Price from Brokerages

Shares of The New York Times Company (NYSE:NYT - Get Free Report) have received an average recommendation of "Moderate Buy" from the five brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $56.00.

Several research firms have recently commented on NYT. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th.

New York Times Stock Up 0.8 %

NYT traded up $0.42 during midday trading on Friday, hitting $52.69. 3,124,445 shares of the company traded hands, compared to its average volume of 1,334,210. The company's 50-day moving average is $48.95 and its 200 day moving average is $51.62. New York Times has a 52 week low of $44.70 and a 52 week high of $58.16. The firm has a market capitalization of $8.60 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, sell-side analysts predict that New York Times will post 2.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On New York Times

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of New York Times by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company's stock worth $822,408,000 after acquiring an additional 63,856 shares during the period. Darsana Capital Partners LP boosted its stake in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock worth $299,288,000 after purchasing an additional 750,000 shares during the period. Geode Capital Management LLC raised its position in shares of New York Times by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock valued at $210,084,000 after buying an additional 102,519 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of New York Times by 13.3% in the fourth quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock worth $185,838,000 after buying an additional 418,155 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of New York Times by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock worth $175,748,000 after acquiring an additional 22,725 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

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.