The New York Times Company (NYSE:NYT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of The New York Times Company (NYSE:NYTGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $46.71.

A number of equities analysts have issued reports on NYT shares. Citigroup started coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price for the company. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Evercore ISI increased their target price on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 9th.

Check Out Our Latest Report on NYT

Insiders Place Their Bets

In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now directly owns 120,072 shares in the company, valued at $5,729,835.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO R Anthony Benten sold 5,171 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of the sale, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the sale, the chief executive officer now owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new position in shares of New York Times in the 4th quarter worth about $27,000. GAMMA Investing LLC purchased a new stake in shares of New York Times during the 4th quarter worth about $31,000. TFO Wealth Partners LLC increased its position in New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after purchasing an additional 2,521 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in New York Times by 15.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after buying an additional 451 shares during the period. Finally, Boston Family Office LLC acquired a new position in New York Times during the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

NYSE NYT opened at $52.27 on Friday. The business has a 50 day moving average price of $49.28 and a 200 day moving average price of $46.57. The company has a market capitalization of $8.59 billion, a P/E ratio of 34.85 and a beta of 1.06. New York Times has a 1-year low of $39.38 and a 1-year high of $52.58.

New York Times (NYSE:NYTGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business had revenue of $594.00 million during the quarter, compared to analysts’ expectations of $591.97 million. During the same quarter last year, the business posted $0.19 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts expect that New York Times will post 1.77 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be paid a $0.13 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 0.99%. New York Times’s payout ratio is currently 34.67%.

New York Times Company Profile

(Get Free Report

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.

Featured Stories

Analyst Recommendations for New York Times (NYSE:NYT)

Receive News & Ratings for New York Times Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Times and related companies with MarketBeat.com's FREE daily email newsletter.