New York Times (NYT) to Release Quarterly Earnings on Wednesday

New York Times (NYSE:NYT) will be releasing its earnings data before the market opens on Wednesday, May 8th. Analysts expect New York Times to post earnings of $0.18 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The business had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts expect New York Times to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

New York Times Trading Up 1.3 %

NYT opened at $45.04 on Monday. New York Times has a 12-month low of $35.06 and a 12-month high of $49.87. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 32.40 and a beta of 1.00. The stock has a fifty day simple moving average of $43.31 and a two-hundred day simple moving average of $44.80.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were paid a $0.13 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio is currently 37.41%.

Analyst Ratings Changes

A number of research firms have recently commented on NYT. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Citigroup began coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Finally, Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.67.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The disclosure for this sale can be found here. Insiders have sold 23,557 shares of company stock valued at $1,029,968 over the last ninety days. Insiders own 2.00% 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.