New York Times (NYSE:NYT) Given New $94.00 Price Target at Citigroup

New York Times (NYSE:NYT) had its price target upped by Citigroup from $77.00 to $94.00 in a research note issued to investors on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Evercore reissued an “outperform” rating on shares of New York Times in a research report on Thursday, February 5th. Wall Street Zen downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Morgan Stanley set a $68.00 price target on New York Times in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.86.

New York Times Stock Up 1.8%

Shares of NYT stock opened at $84.15 on Tuesday. The business’s fifty day moving average is $75.50 and its 200 day moving average is $66.92. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 2.56 and a beta of 1.09. New York Times has a twelve month low of $44.83 and a twelve month high of $84.64.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $802.31 million during the quarter, compared to analyst estimates of $791.55 million. New York Times had a return on equity of 20.73% and a net margin of 12.18%.The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. Equities research analysts expect that New York Times will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.18. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. New York Times’s dividend payout ratio is currently 34.45%.

Insider Buying and Selling at New York Times

In other New York Times news, Chairman Arthur G. Sulzberger sold 13,000 shares of New York Times stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $79.95, for a total value of $1,039,350.00. Following the completion of the sale, the chairman owned 172,338 shares of the company’s stock, valued at approximately $13,778,423.10. The trade was a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO R Anthony Benten sold 1,913 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $73.57, for a total value of $140,739.41. Following the completion of the transaction, the chief accounting officer owned 37,772 shares in the company, valued at approximately $2,778,886.04. This trade represents a 4.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 27,913 shares of company stock worth $2,214,369. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Berkshire Hathaway Inc bought a new stake in shares of New York Times during the 4th quarter valued at about $351,664,000. Bank of Montreal Can lifted its stake in shares of New York Times by 10,018.3% in the 4th quarter. Bank of Montreal Can now owns 2,316,172 shares of the company’s stock worth $160,789,000 after purchasing an additional 2,293,281 shares during the period. AQR Capital Management LLC boosted its holdings in shares of New York Times by 78.1% in the second quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock worth $233,265,000 after buying an additional 1,836,788 shares during the last quarter. Egerton Capital UK LLP purchased a new position in shares of New York Times in the fourth quarter worth approximately $97,882,000. Finally, Abrams Bison Investments LLC bought a new stake in New York Times during the second quarter valued at approximately $78,932,000. Institutional investors own 95.37% of the company’s stock.

Key Stories Impacting New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Citigroup raised its price target on NYT to $94 and kept a “buy” rating, which gives the stock renewed upside and likely contributed to buying interest today. Citigroup price-target raise
• Positive Sentiment: Several major breaking stories — including the LaGuardia plane collision and ongoing Iran-related conflict updates — are driving heavy readership and page views, a tailwind for subscriptions and ad impressions. High-profile coverage typically lifts short-term traffic and engagement for NYT. Deadly Plane Collision at LaGuardia Airport: What We Know
• Neutral Sentiment: NYT’s latest quarterly results showed an EPS and revenue beat with double-digit revenue growth year-over-year — a reminder of the company’s subscription-driven fundamentals that underlie longer-term valuation. (Earnings released Feb. 4)
• Negative Sentiment: Ongoing geopolitical tensions (coverage includes pieces on oil shipments, Iran and regional risks) keep macro volatility elevated. Higher oil/gas prices and market instability can pressure advertising budgets and broader markets, which could offset some gains from increased news traffic. High Oil and Gas Prices Could Outlast Trump’s War With Iran

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.