The New York Times Company (NYSE:NYT) Expected to Post Earnings of $0.28 Per Share

Analysts forecast that The New York Times Company (NYSE:NYTGet Rating) will announce earnings per share of $0.28 for the current fiscal quarter, according to Zacks. Two analysts have made estimates for New York Times’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.19. New York Times reported earnings per share of $0.36 during the same quarter last year, which would suggest a negative year over year growth rate of 22.2%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that New York Times will report full year earnings of $1.17 per share for the current year, with EPS estimates ranging from $1.12 to $1.22. For the next financial year, analysts expect that the business will report earnings of $1.34 per share, with EPS estimates ranging from $1.24 to $1.43. Zacks’ EPS 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 posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. New York Times had a net margin of 8.58% and a return on equity of 13.87%. The company had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $543.35 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s revenue was up 13.6% on a year-over-year basis.

A number of research firms have weighed in on NYT. 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 raised New York Times from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research report on Friday, April 8th.

New York Times stock opened at $33.83 on Wednesday. The company has a fifty day simple moving average of $42.07 and a 200-day simple moving average of $43.95. The stock has a market cap of $5.67 billion, a P/E ratio of 31.32 and a beta of 0.89. New York Times has a 12-month low of $31.68 and a 12-month high of $56.19.

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

In other news, CEO Levien Meredith A. Kopit sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were 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 can be accessed through the SEC website. Also, EVP Diane Brayton sold 9,999 shares of the company’s stock in a transaction on 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 company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NYT. Amundi Pioneer Asset Management Inc. raised its holdings in shares of New York Times by 10.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 43,546 shares of the company’s stock valued at $1,430,000 after buying an additional 4,238 shares during the last quarter. Morgan Stanley increased its position in New York Times by 240.0% in the 2nd quarter. Morgan Stanley now owns 872,968 shares of the company’s stock valued at $38,018,000 after acquiring an additional 616,180 shares during the period. Deutsche Bank AG increased its position in New York Times by 29.4% in the 3rd quarter. Deutsche Bank AG now owns 58,771 shares of the company’s stock valued at $2,896,000 after acquiring an additional 13,360 shares during the period. Advisor Group Holdings Inc. raised its stake in New York Times by 1.7% during the 3rd quarter. Advisor Group Holdings Inc. now owns 22,910 shares of the company’s stock valued at $1,129,000 after acquiring an additional 378 shares during the last quarter. Finally, Truist Financial Corp lifted its position in New York Times by 6.7% during the 3rd quarter. Truist Financial Corp now owns 16,775 shares of the company’s stock worth $826,000 after acquiring an additional 1,049 shares during the period. Institutional investors own 90.76% of the company’s stock.

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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