Analysts Set The New York Times Company (NYSE:NYT) Price Target at $45.67

The New York Times Company (NYSE:NYT) has earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $45.67.

Several brokerages recently commented on NYT. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, March 4th. Finally, Citigroup began coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 target price on the stock.

Insider Buying and Selling at New York Times

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

Hedge Funds Weigh In On New York Times

Hedge funds have recently bought and sold shares of the company. Contravisory Investment Management Inc. purchased a new position in New York Times during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new position in shares of New York Times in the fourth quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of New York Times in the third quarter valued at approximately $37,000. TFO Wealth Partners LLC increased its position in shares of New York Times by 84,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock valued at $124,000 after acquiring an additional 2,521 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in New York Times by 9.6% during the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after acquiring an additional 232 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of NYT stock opened at $43.66 on Tuesday. New York Times has a one year low of $35.06 and a one year high of $49.87. The business’s 50 day simple moving average is $43.26 and its 200 day simple moving average is $44.78. The stock has a market capitalization of $7.16 billion, a PE ratio of 31.41 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share 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 net margin of 9.58% and a return on equity of 16.48%. New York Times’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, research analysts expect that New York Times will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were issued 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 1.19%. The ex-dividend date was Monday, April 1st. New York Times’s dividend payout ratio (DPR) is currently 37.41%.

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.