Brokerages Set The New York Times Company (NYSE:NYT) Price Target at $54.83

The New York Times Company (NYSE:NYT) has received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.83.

NYT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays increased 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 research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th.

New York Times Stock Performance

Shares of NYSE:NYT opened at $54.87 on Friday. New York Times has a 52-week low of $41.55 and a 52-week high of $57.08. The company has a market cap of $9.01 billion, a P/E ratio of 32.47 and a beta of 1.02. The stock’s 50-day moving average is $54.81 and its 200-day moving average is $52.41.

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

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Investors Weigh In On New York Times

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its stake in New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after buying an additional 51,801 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of New York Times in the 1st quarter valued at $473,000. Comerica Bank grew its holdings in shares of New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after purchasing an additional 11,234 shares during the last quarter. Russell Investments Group Ltd. increased 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 worth $5,054,000 after purchasing an additional 9,609 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in New York Times during the 1st quarter valued at about $2,293,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.