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.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on NYT shares. JPMorgan Chase & Co. decreased their price target on New York Times from $54.00 to $41.00 in a research report on Tuesday, June 14th. Cannonball Research cut New York Times from a "buy" rating to a "neutral" rating and set a $31.50 price target on the stock. in a research report on Wednesday, June 22nd. Evercore ISI decreased their price target on 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. Guggenheim decreased their price target on 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. Finally, Barclays decreased their price target on New York Times from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.93.
New York Times Trading Up 10.6 %
Shares of NYSE:NYT traded up $3.36 during mid-day trading on Thursday, hitting $35.05. 7,343,345 shares of the company traded hands, compared to its average volume of 1,474,801. The stock has a 50-day moving average price of $30.46 and a two-hundred day moving average price of $37.39. New York Times has a 12-month low of $27.63 and a 12-month high of $56.19. The stock has a market cap of $5.87 billion, a P/E ratio of 30.84 and a beta of 1.01.
New York Times (NYSE:NYT - Get Rating) last posted its quarterly earnings data 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. New York Times had a return on equity of 12.20% and a net margin of 8.70%. The business had revenue of $555.70 million for the quarter, compared to analysts' expectations of $553.74 million. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business's revenue was up 11.5% on a year-over-year basis. As a group, analysts expect that New York Times will post 1.01 earnings per share for the current year.
New York Times Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Monday, July 11th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. New York Times's payout ratio is 31.86%.