Analysts Anticipate The New York Times Company (NYSE:NYT) Will Announce Earnings of $0.19 Per Share

Wall Street brokerages expect The New York Times Company (NYSE:NYTGet Rating) to post earnings per share (EPS) of $0.19 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for New York Times’ earnings. The lowest EPS estimate is $0.18 and the highest is $0.19. New York Times posted earnings of $0.26 per share in the same quarter last year, which would suggest a negative year over year growth rate of 26.9%. The company is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that New York Times will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.14 to $1.16. For the next financial year, analysts forecast that the business will report earnings of $1.35 per share, with EPS estimates ranging from $1.32 to $1.38. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover New York Times.

New York Times (NYSE:NYTGet Rating) last posted its quarterly earnings data on Wednesday, February 2nd. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.08. The business had revenue of $594.23 million for the quarter, compared to analysts’ expectations of $579.98 million. New York Times had a return on equity of 15.09% and a net margin of 10.60%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share.

NYT has been the topic of several research reports. StockNews.com initiated coverage on New York Times in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research note on Friday, April 8th.

In related news, EVP Diane Brayton sold 9,999 shares of the business’s stock in a transaction on Friday, February 18th. The stock was sold at an average price of $41.44, for a total transaction of $414,358.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $42.78, for a total value of $427,800.00. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Fulton Bank N.A. grew its position in New York Times by 4.7% during the fourth quarter. Fulton Bank N.A. now owns 5,217 shares of the company’s stock worth $252,000 after buying an additional 235 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of New York Times by 43.0% in the 3rd quarter. Signaturefd LLC now owns 1,007 shares of the company’s stock worth $50,000 after purchasing an additional 303 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of New York Times by 1.3% in the 4th quarter. Pacer Advisors Inc. now owns 24,263 shares of the company’s stock worth $1,172,000 after purchasing an additional 311 shares in the last quarter. Brave Asset Management Inc. boosted its holdings in shares of New York Times by 7.1% in the 4th quarter. Brave Asset Management Inc. now owns 4,818 shares of the company’s stock worth $233,000 after purchasing an additional 318 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of New York Times by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 6,992 shares of the company’s stock worth $338,000 after purchasing an additional 328 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

Shares of NYT traded up $0.47 during mid-day trading on Wednesday, hitting $45.17. The stock had a trading volume of 651,474 shares, compared to its average volume of 1,405,401. The firm has a market cap of $7.57 billion, a P/E ratio of 34.65 and a beta of 0.82. The business has a fifty day moving average price of $44.22 and a 200-day moving average price of $46.41. New York Times has a 52 week low of $37.27 and a 52 week high of $56.19.

New York Times announced that its board has initiated a share repurchase plan on Wednesday, February 2nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 21st. Investors of record on Wednesday, April 6th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. This is a positive change from New York Times’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, April 5th. New York Times’s payout ratio is presently 27.91%.

About New York Times (Get Rating)

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.

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