The New York Times Company (NYSE:NYT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of The New York Times Company (NYSE:NYT) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $54.71.

NYT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th.

New York Times Price Performance

NYSE NYT opened at $47.99 on Monday. The business has a 50 day moving average price of $52.22 and a 200 day moving average price of $53.76. The company has a market capitalization of $7.87 billion, a P/E ratio of 26.96, a PEG ratio of 1.77 and a beta of 1.01. New York Times has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.50%. New York Times’s dividend payout ratio is 29.21%.

Institutional Trading of New York Times

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning boosted its position in shares of New York Times by 5.0% in the third quarter. Creative Planning now owns 10,903 shares of the company’s stock worth $607,000 after acquiring an additional 520 shares during the last quarter. Blue Trust Inc. raised its stake in New York Times by 147.7% during the third quarter. Blue Trust Inc. now owns 5,568 shares of the company’s stock worth $285,000 after purchasing an additional 3,320 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of New York Times in the 3rd quarter valued at $228,000. International Assets Investment Management LLC grew its stake in shares of New York Times by 5,467.1% during the 3rd quarter. International Assets Investment Management LLC now owns 25,052 shares of the company’s stock valued at $1,395,000 after buying an additional 24,602 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of New York Times by 582.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock worth $20,110,000 after buying an additional 308,277 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.