The New York Times Company (NYSE:NYT) Expected to Announce Quarterly Sales of $543.29 Million

Wall Street analysts predict that The New York Times Company (NYSE:NYTGet Rating) will post $543.29 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for New York Times’ earnings. The lowest sales estimate is $543.03 million and the highest is $543.54 million. New York Times posted sales of $473.05 million during the same quarter last year, which suggests a positive year over year growth rate of 14.8%. The company is scheduled to report its next quarterly earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that New York Times will report full-year sales of $2.33 billion for the current financial year, with estimates ranging from $2.31 billion to $2.35 billion. For the next financial year, analysts forecast that the business will report sales of $2.47 billion, with estimates ranging from $2.46 billion to $2.47 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover New York Times.

New York Times (NYSE:NYTGet Rating) last released its earnings results on Wednesday, February 2nd. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.08. The company had revenue of $594.23 million for the quarter, compared to analysts’ expectations of $579.98 million. New York Times had a net margin of 10.60% and a return on equity of 15.09%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS.

NYT has been the topic of several research analyst reports. StockNews.com started coverage on shares of New York Times in a research report on Thursday, March 31st. They set 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 price target on the stock in a report on Friday, April 8th.

In other news, CEO Levien Meredith A. Kopit sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $42.78, for a total transaction of $427,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Diane Brayton sold 9,999 shares of the firm’s stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $41.44, for a total transaction of $414,358.56. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. O Shaughnessy Asset Management LLC raised its holdings in shares of New York Times by 800.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 513 shares of the company’s stock valued at $25,000 after acquiring an additional 456 shares during the last quarter. HM Payson & Co. purchased a new stake in New York Times during the fourth quarter worth about $25,000. National Bank of Canada FI purchased a new stake in New York Times during the 4th quarter worth about $26,000. Sageworth Trust Co of South Dakota acquired a new position in New York Times in the fourth quarter valued at approximately $27,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in shares of New York Times in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.83% of the company’s stock.

Shares of NYT opened at $39.92 on Friday. New York Times has a 12 month low of $37.27 and a 12 month high of $56.19. The stock’s 50 day moving average is $44.29 and its two-hundred day moving average is $45.71. The firm has a market cap of $6.69 billion, a P/E ratio of 30.95 and a beta of 0.82.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Wednesday, April 6th were paid a $0.09 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, April 5th. New York Times’s payout ratio is currently 27.91%.

New York Times announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 2nd that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

New York Times Company Profile (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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