The New York Times Company to Issue Quarterly Dividend of $0.13 (NYSE:NYT)

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders of record on Thursday, January 9th will be given a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%.

New York Times has raised its dividend payment by an average of 22.2% annually over the last three years. New York Times has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.6%.

New York Times Trading Up 0.3 %

NYSE:NYT traded up $0.17 during mid-day trading on Thursday, hitting $53.27. The stock had a trading volume of 1,222,908 shares, compared to its average volume of 1,143,952. New York Times has a 52 week low of $41.55 and a 52 week high of $58.16. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 31.52, a P/E/G ratio of 1.75 and a beta of 1.00. The company has a 50 day simple moving average of $54.78 and a 200-day simple moving average of $53.73.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.83.

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.