The New York Times Company (NYSE:NYT) Receives $54.83 Consensus Price Target from Brokerages

Shares of The New York Times Company (NYSE:NYT) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $54.83.

Several brokerages have recently weighed in on NYT. Deutsche Bank Aktiengesellschaft increased their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th.

New York Times Stock Performance

Shares of NYT stock opened at $55.18 on Wednesday. New York Times has a one year low of $41.55 and a one year high of $58.16. The company’s 50-day moving average is $54.80 and its 200 day moving average is $53.56. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. As a group, research analysts predict that New York Times will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NYT. Darsana Capital Partners LP grew its holdings in shares of New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after purchasing an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after buying an additional 482,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after buying an additional 438,680 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in New York Times by 582.1% in the third 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. Finally, Bank of Montreal Can lifted its position in New York Times by 964.9% in the second quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock worth $13,637,000 after buying an additional 241,093 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.