The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website. The company also transmits articles, graphics, and photographs from The Times and other publications to approximately 1,500 newspapers, magazines, and websites; licenses electronic databases to resellers in the business, professional, and library markets; and offers magazine licensing, news digests, book development, and rights and permissions. In addition, it engages in the live events business, which hosts physical and virtual live events to connect audiences with journalists and outside thought leaders; direct-sold website, mobile application, podcast, email, and video advertisements, as well as digital advertising services; operates Wirecutter, a product review and recommendation products; develops mobile applications, including games and cooking products; prints and distributes products for third parties; and offers other products and services. The company was founded in 1851 and is headquartered in New York, New York.
New York Times Price Performance
Shares of New York Times stock traded down $0.46 during trading on Monday, reaching $33.28. 815,428 shares of the company traded hands, compared to its average volume of 1,475,471. New York Times has a 1-year low of $27.63 and a 1-year high of $56.19. The company has a 50 day moving average price of $30.43 and a 200-day moving average price of $37.29. The firm has a market capitalization of $5.53 billion, a PE ratio of 29.45 and a beta of 1.01.
New York Times (NYSE:NYT - Get Rating) last released its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. New York Times had a net margin of 8.70% and a return on equity of 12.20%. The company had revenue of $555.70 million for the quarter, compared to the consensus estimate of $553.74 million. During the same quarter in the previous year, the company earned $0.36 EPS. New York Times's quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts expect that New York Times will post 1.01 earnings per share for the current year.
New York Times Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 21st. Shareholders of record on Monday, July 11th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, July 8th. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. New York Times's dividend payout ratio (DPR) is presently 31.86%.
Analyst Upgrades and Downgrades
Several research firms recently commented on NYT. JPMorgan Chase & Co. cut their target price on shares of New York Times from $54.00 to $41.00 in a research report on Tuesday, June 14th. Evercore ISI cut their target price on shares of New York Times from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 21st. Morgan Stanley cut their target price on shares of New York Times from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Thursday, August 4th. TheStreet downgraded shares of New York Times from a "b" rating to a "c" rating in a research report on Monday, June 6th. Finally, Guggenheim dropped their price target on shares of New York Times from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $36.93.