Brokerages Set The New York Times Company (NYSE:NYT) Target Price at $42.00

Shares of The New York Times Company (NYSE:NYT) have received a consensus recommendation of “Hold” from the four analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $42.00.

Several research analysts have recently commented on the company. StockNews.com lowered New York Times from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Barclays increased their price objective on New York Times from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. increased their price objective on New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th. Morgan Stanley increased their price objective on New York Times from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. Finally, Guggenheim increased their price objective on New York Times from $37.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 10th.

New York Times Stock Performance

NYSE:NYT opened at $44.24 on Monday. New York Times has a one year low of $27.58 and a one year high of $45.30. The stock has a market cap of $7.27 billion, a PE ratio of 41.74 and a beta of 1.02. The stock has a 50 day moving average price of $42.07 and a 200 day moving average price of $39.41.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. New York Times had a return on equity of 14.81% and a net margin of 7.45%. The company had revenue of $590.85 million during the quarter, compared to analyst estimates of $580.56 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that New York Times will post 1.48 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Tuesday, July 11th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, July 10th. This represents a $0.44 annualized dividend and a yield of 0.99%. New York Times’s dividend payout ratio is presently 41.51%.

Insider Buying and Selling

In other New York Times news, CAO R Anthony Benten sold 8,401 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.30, for a total transaction of $372,164.30. Following the completion of the transaction, the chief accounting officer now owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other New York Times news, CAO R Anthony Benten sold 8,401 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $44.30, for a total transaction of $372,164.30. Following the completion of the transaction, the chief accounting officer now owns 41,575 shares of the company’s stock, valued at $1,841,772.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane Brayton sold 11,000 shares of New York Times stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $44.03, for a total value of $484,330.00. Following the completion of the sale, the executive vice president now directly owns 36,741 shares of the company’s stock, valued at approximately $1,617,706.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,689 shares of company stock valued at $2,233,298. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On New York Times

A number of institutional investors have recently added to or reduced their stakes in NYT. Private Trust Co. NA acquired a new position in shares of New York Times during the second quarter worth about $30,000. Compass Wealth Management LLC acquired a new position in shares of New York Times during the fourth quarter worth about $30,000. Pinebridge Investments L.P. acquired a new position in shares of New York Times during the second quarter worth about $39,000. Machina Capital S.A.S. acquired a new position in shares of New York Times during the first quarter worth about $43,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of New York Times during the fourth quarter worth about $37,000. 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, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.