New York Times (NYSE:NYT) Sets New 52-Week High – What’s Next?

The New York Times Company (NYSE:NYT)’s share price hit a new 52-week high on Friday . The stock traded as high as $57.70 and last traded at $57.70, with a volume of 296 shares. The stock had previously closed at $55.80.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NYT. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their target price on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Performance

The stock has a market capitalization of $9.24 billion, a P/E ratio of 33.30 and a beta of 1.02. The firm’s fifty day simple moving average is $54.81 and its 200 day simple moving average is $52.35.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. Analysts anticipate that The New York Times Company will post 1.85 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Insider Activity at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NYT. Duality Advisers LP acquired a new position in shares of New York Times in the 1st quarter worth approximately $983,000. Swiss National Bank lifted its position in shares of New York Times by 0.3% during the 1st quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after acquiring an additional 800 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of New York Times during the 1st quarter valued at $2,740,000. Comgest Global Investors S.A.S. lifted its position in shares of New York Times by 3.1% during the 1st quarter. Comgest Global Investors S.A.S. now owns 398,672 shares of the company’s stock valued at $17,231,000 after acquiring an additional 12,130 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of New York Times by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock valued at $5,054,000 after acquiring an additional 9,609 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Company Profile

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.