New York Times (NYSE:NYT) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

New York Times (NYSE:NYT) announced its quarterly earnings data on Wednesday. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11, Briefing.com reports. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business had revenue of $594.00 million for the quarter, compared to analysts’ expectations of $591.97 million. During the same period last year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year.

New York Times Price Performance

New York Times stock opened at $46.25 on Wednesday. The business has a 50 day moving average of $43.42 and a 200-day moving average of $44.87. The company has a market capitalization of $7.59 billion, a P/E ratio of 33.27 and a beta of 1.00. New York Times has a 1 year low of $35.06 and a 1 year high of $49.87.

Insider Buying and Selling

In related news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other New York Times news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The disclosure for this sale can be found here. Insiders have sold a total of 23,557 shares of company stock worth $1,029,968 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of several recent analyst reports. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Monday, March 4th. Citigroup initiated coverage on New York Times in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.67.

About New York Times

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.