Brokerages Set The New York Times Company (NYSE:NYT) Target Price at $56.00

Shares of The New York Times Company (NYSE:NYT) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $56.00.

Several brokerages have commented on NYT. Morgan Stanley decreased their price objective 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. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th.

New York Times Trading Down 1.0 %

NYT opened at $48.55 on Friday. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a fifty day moving average price of $50.25 and a 200-day moving average price of $52.91. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its quarterly earnings results 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 return on equity of 18.51% and a net margin of 11.36%. On average, equities research analysts forecast that New York Times will post 2.08 EPS for the current year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a $0.18 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is currently 40.45%.

Institutional Trading of New York Times

A number of institutional investors and hedge funds have recently made changes to their positions in NYT. 111 Capital bought a new position in New York Times during the 4th quarter valued at $342,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of New York Times in the 4th quarter worth approximately $15,659,000. Jefferies Financial Group Inc. bought a new position in New York Times during the fourth quarter valued at about $631,000. Putney Financial Group LLC acquired a new stake in New York Times in the 4th quarter valued at about $102,000. Finally, Burgundy Asset Management Ltd. boosted its holdings in New York Times by 16.4% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,407,458 shares of the company’s stock worth $73,258,000 after buying an additional 197,859 shares in the last quarter. 95.37% of the stock is currently 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.