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 Trading Down 3.7 %
Shares of NYT Stock opened at $33.74 on Friday. New York Times has a 12-month low of $27.63 and a 12-month high of $56.19. The firm's 50 day moving average is $30.45 and its 200 day moving average is $37.33. The stock has a market capitalization of $5.61 billion, a P/E ratio of 29.86 and a beta of 1.01.
New York Times (NYSE:NYT - Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $555.70 million for the quarter, compared to analysts' expectations of $553.74 million. New York Times had a net margin of 8.70% and a return on equity of 12.20%. The company's revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. As a group, equities analysts predict 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. Stockholders of record on Monday, July 11th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, July 8th. New York Times's dividend payout ratio is presently 31.86%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of New York Times from $54.00 to $41.00 in a report on Tuesday, June 14th. Morgan Stanley lowered 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 report on Thursday, August 4th. Cannonball Research cut shares of New York Times from a "buy" rating to a "neutral" rating and set a $31.50 target price on the stock. in a report on Wednesday, June 22nd. Evercore ISI decreased their price target on shares of New York Times from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, June 21st. Finally, Guggenheim cut their target price on shares of New York Times from $41.00 to $34.00 and set a "neutral" rating for the company in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, New York Times currently has an average rating of "Hold" and an average target price of $36.93.