New York Times (NYT) Set to Announce Earnings on Wednesday

New York Times (NYSE:NYT) will be issuing its quarterly earnings data before the market opens on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. New York Times had a return on equity of 14.81% and a net margin of 7.45%. The firm had revenue of $590.85 million for the quarter, compared to analyst estimates of $580.56 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. New York Times’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect New York Times to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

New York Times Price Performance

Shares of NYT stock opened at $42.01 on Monday. The business’s fifty day moving average price is $42.23 and its 200 day moving average price is $40.38. New York Times has a 1-year low of $31.46 and a 1-year high of $45.30. The firm has a market capitalization of $6.90 billion, a PE ratio of 39.63 and a beta of 1.12.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, October 6th. New York Times’s dividend payout ratio is presently 41.51%.

Analyst Ratings Changes

Several research firms have weighed in on NYT. Barclays upped their target price on New York Times from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, November 1st. Guggenheim upped their target price on New York Times from $37.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. JPMorgan Chase & Co. upped their target price on New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Finally, Morgan Stanley upped their target price on New York Times from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.00.

Insider Activity

In other news, CAO R Anthony Benten sold 8,401 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.30, for a total value of $372,164.30. Following the sale, the chief accounting officer now directly owns 41,575 shares in the company, valued at $1,841,772.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Arthur G. Sulzberger sold 8,500 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $44.23, for a total transaction of $375,955.00. Following the transaction, the chairman now directly owns 101,691 shares in the company, valued at $4,497,792.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO R Anthony Benten sold 8,401 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $44.30, for a total value of $372,164.30. Following the transaction, the chief accounting officer now owns 41,575 shares in the company, valued at $1,841,772.50. The disclosure for this sale can be found here. Insiders have sold 50,689 shares of company stock worth $2,233,298 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On New York Times

Large investors have recently added to or reduced their stakes in the business. Compass Wealth Management LLC purchased a new position in New York Times during the fourth quarter worth about $30,000. Belpointe Asset Management LLC raised its holdings in shares of New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock worth $59,000 after purchasing an additional 365 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of New York Times by 108.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 2,288 shares of the company’s stock worth $89,000 after purchasing an additional 1,188 shares during the period. State of Wyoming raised its holdings in shares of New York Times by 69.4% in the 2nd quarter. State of Wyoming now owns 4,563 shares of the company’s stock worth $180,000 after purchasing an additional 1,870 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of New York Times in the 2nd quarter worth about $209,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

About New York Times

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.