The New York Times Company (NYSE:NYT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of The New York Times Company (NYSE:NYT) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.3333.

NYT has been the topic of a number of recent research reports. Guggenheim raised their price target on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley raised their price target on shares of New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI raised their price target on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Barclays boosted their target price on shares of New York Times from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Citigroup reissued a “buy” rating on shares of New York Times in a research report on Thursday, June 12th.

New York Times Stock Down 1.2%

NYT stock opened at $57.51 on Monday. New York Times has a 12-month low of $44.83 and a 12-month high of $62.24. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.45 and a beta of 1.09. The company has a 50 day moving average of $55.06 and a two-hundred day moving average of $52.19.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The company had revenue of $685.90 million during the quarter, compared to the consensus estimate of $670.22 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts anticipate that New York Times will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Wednesday, July 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s dividend payout ratio is currently 37.11%.

Insider Activity

In other news, CAO R Anthony Benten sold 1,990 shares of New York Times stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.75, for a total transaction of $112,932.50. Following the sale, the chief accounting officer directly owned 39,685 shares in the company, valued at approximately $2,252,123.75. The trade was a 4.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Bardeen sold 2,500 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.83, for a total transaction of $142,075.00. Following the completion of the sale, the executive vice president directly owned 16,727 shares in the company, valued at approximately $950,595.41. The trade was a 13.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,490 shares of company stock valued at $479,728. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of large investors have recently modified their holdings of the stock. Ontario Teachers Pension Plan Board bought a new stake in shares of New York Times during the second quarter worth approximately $2,095,000. Intech Investment Management LLC raised its stake in shares of New York Times by 1.9% during the second quarter. Intech Investment Management LLC now owns 95,408 shares of the company’s stock worth $5,341,000 after buying an additional 1,747 shares during the last quarter. Creative Planning raised its stake in shares of New York Times by 19.1% during the second quarter. Creative Planning now owns 12,670 shares of the company’s stock worth $709,000 after buying an additional 2,035 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of New York Times by 321.3% during the second quarter. SG Americas Securities LLC now owns 21,017 shares of the company’s stock worth $1,177,000 after buying an additional 16,028 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of New York Times by 6.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,692 shares of the company’s stock worth $2,334,000 after buying an additional 2,687 shares during the last quarter. 95.37% of the stock is currently 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.