Morgan Stanley Has Lowered Expectations for New York Times (NYSE:NYT) Stock Price

New York Times (NYSE:NYT) had its target price decreased by stock analysts at Morgan Stanley from $56.00 to $54.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 11.75% from the company’s current price.

A number of other equities research analysts also recently weighed in on NYT. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised 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. Finally, StockNews.com downgraded New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.71.

New York Times Stock Performance

Shares of NYSE:NYT traded down $0.91 during midday trading on Thursday, reaching $48.32. The company had a trading volume of 278,270 shares, compared to its average volume of 1,642,831. New York Times has a 1-year low of $41.55 and a 1-year high of $58.16. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. The company has a fifty day simple moving average of $53.52 and a two-hundred day simple moving average of $54.12.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. Analysts expect that New York Times will post 1.84 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYT. UMB Bank n.a. grew its stake in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after buying an additional 247 shares during the period. GAMMA Investing LLC boosted its position in shares of New York Times by 49.7% during the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after buying an additional 698 shares during the period. Paladin Wealth LLC acquired a new position in shares of New York Times during the third quarter worth about $172,000. Finally, Portfolio Design Labs LLC acquired a new position in shares of New York Times during the fourth quarter worth about $202,000. 95.37% of the stock is owned by institutional investors and hedge funds.

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.