New York Times (NYSE:NYT) Earns Buy (B) Rating from Weiss Ratings

New York Times (NYSE:NYT)‘s stock had its “buy (b)” rating restated by investment analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on New York Times from $54.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. Guggenheim boosted their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Barclays set a $52.00 price target on New York Times and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. Finally, Evercore ISI boosted their price target on New York Times from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, New York Times currently has an average rating of “Moderate Buy” and a consensus price target of $60.33.

New York Times Price Performance

New York Times stock opened at $57.09 on Friday. The stock has a market capitalization of $9.29 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.16. New York Times has a 12 month low of $44.83 and a 12 month high of $62.24. The business has a 50 day simple moving average of $57.70 and a 200-day simple moving average of $55.45.

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

Insider Buying and Selling at New York Times

In related news, EVP Jacqueline M. Welch sold 5,500 shares of the business’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the sale, the executive vice president owned 14,470 shares in the company, valued at approximately $868,778.80. The trade was a 27.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the completion of the sale, the executive vice president owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On New York Times

Several large investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI purchased a new stake in New York Times during the 3rd quarter worth about $597,000. Bayforest Capital Ltd boosted its position in shares of New York Times by 4.7% in the 3rd quarter. Bayforest Capital Ltd now owns 10,517 shares of the company’s stock valued at $604,000 after purchasing an additional 474 shares during the period. Forum Financial Management LP boosted its position in shares of New York Times by 18.5% in the 3rd quarter. Forum Financial Management LP now owns 5,128 shares of the company’s stock valued at $294,000 after purchasing an additional 801 shares during the period. MASTERINVEST Kapitalanlage GmbH lifted its position in New York Times by 22.8% during the 3rd quarter. MASTERINVEST Kapitalanlage GmbH now owns 27,037 shares of the company’s stock worth $1,552,000 after acquiring an additional 5,016 shares during the period. Finally, Steinberganna Wealth Management acquired a new stake in New York Times during the 3rd quarter worth approximately $229,000. Hedge funds and other institutional investors 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.