$552.78 Million in Sales Expected for The New York Times Company (NYSE:NYT) This Quarter

Wall Street analysts predict that The New York Times Company (NYSE:NYTGet Rating) will report $552.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for New York Times’ earnings, with the highest sales estimate coming in at $554.74 million and the lowest estimate coming in at $550.82 million. New York Times reported sales of $498.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.9%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that New York Times will report full-year sales of $2.32 billion for the current fiscal year, with estimates ranging from $2.31 billion to $2.33 billion. For the next year, analysts forecast that the company will report sales of $2.46 billion, with estimates ranging from $2.45 billion to $2.46 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for New York Times.

New York Times (NYSE:NYTGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $543.35 million. New York Times had a return on equity of 13.87% and a net margin of 8.58%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Friday, April 8th. StockNews.com began coverage on New York Times in a report on Thursday, March 31st. They set a “hold” rating for the company.

In other news, CEO Levien Meredith A. Kopit sold 10,000 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC lifted its stake in New York Times by 800.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 513 shares of the company’s stock valued at $25,000 after purchasing an additional 456 shares during the last quarter. HM Payson & Co. acquired a new stake in New York Times in the 4th quarter valued at about $25,000. National Bank of Canada FI acquired a new stake in New York Times in the 4th quarter valued at about $26,000. Sageworth Trust Co of South Dakota acquired a new stake in New York Times in the 4th quarter valued at about $27,000. Finally, Retirement Planning Co of New England Inc. acquired a new stake in New York Times in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 90.76% of the company’s stock.

NYT stock opened at $33.79 on Friday. The stock has a 50-day moving average price of $41.57 and a two-hundred day moving average price of $43.73. The stock has a market cap of $5.66 billion, a PE ratio of 31.29 and a beta of 0.89. New York Times has a 1 year low of $31.68 and a 1 year high of $56.19.

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

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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