New York Times (NYSE:NYT) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

New York Times (NYSE:NYT) issued its quarterly earnings results on Wednesday. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06, Zacks reports. New York Times had a return on equity of 17.75% and a net margin of 11.04%.

New York Times Stock Performance

NYT traded down $0.60 during midday trading on Friday, reaching $48.60. 986,589 shares of the company were exchanged, compared to its average volume of 1,734,705. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. New York Times has a one year low of $41.55 and a one year high of $58.16. The company’s fifty day moving average price is $53.31 and its 200 day moving average price is $54.06.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times’s payout ratio is currently 30.77%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NYT shares. Deutsche Bank Aktiengesellschaft increased their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley cut their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday. StockNews.com lowered shares of New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and a consensus price target of $54.71.

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.