The New York Times Company (NYSE:NYT) Receives $54.83 Average Target Price from Analysts

The New York Times Company (NYSE:NYT) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $54.83.

NYT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th.

Hedge Funds Weigh In On New York Times

Several large investors have recently modified their holdings of NYT. UMB Bank n.a. raised its holdings in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. Signaturefd LLC lifted its holdings in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of New York Times by 49.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after purchasing an additional 698 shares during the period. Paladin Wealth LLC acquired a new stake in New York Times in the 3rd quarter valued at approximately $172,000. Finally, Empower Advisory Group LLC purchased a new stake in New York Times in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

NYSE:NYT opened at $52.89 on Friday. The stock has a market capitalization of $8.67 billion, a PE ratio of 31.30, a P/E/G ratio of 1.75 and a beta of 1.00. New York Times has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The company has a fifty day moving average of $54.21 and a two-hundred day moving average of $53.91.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts forecast that New York Times will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.52 annualized dividend and a yield of 0.98%. New York Times’s dividend payout ratio (DPR) is 30.77%.

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.