The New York Times Co. (NYSE:NYT) announced a quarterly dividend on Thursday, September 15th. Stockholders of record on Wednesday, October 5th will be paid a dividend of 0.04 per share on Thursday, October 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Monday, October 3rd.
Shares of The New York Times (NYSE:NYT) opened at 11.95 on Friday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 36.88 and a beta of 1.82. The stock’s 50 day moving average price is $12.68 and its 200-day moving average price is $12.48. The New York Times has a 12 month low of $11.45 and a 12 month high of $14.27.
The New York Times (NYSE:NYT) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. The firm had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. Equities analysts forecast that The New York Times will post $0.58 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Zacks Investment Research cut shares of The New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Jefferies Group reissued a “hold” rating and set a $13.00 price target on shares of The New York Times in a research note on Friday, July 29th. Finally, TheStreet raised shares of The New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $13.60.
In other The New York Times news, EVP Kenneth A. Richieri sold 24,942 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $12.95, for a total value of $322,998.90. Following the sale, the executive vice president now directly owns 50,203 shares in the company, valued at $650,128.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Levien Meredith A. Kopit sold 26,728 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $13.06, for a total transaction of $349,067.68. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Cantab Capital Partners LLP raised its stake in The New York Times by 2.3% in the second quarter. Cantab Capital Partners LLP now owns 65,264 shares of the company’s stock valued at $790,000 after buying an additional 1,475 shares during the period. Barclays PLC raised its stake in The New York Times by 235.4% in the second quarter. Barclays PLC now owns 9,919 shares of the company’s stock valued at $120,000 after buying an additional 6,962 shares during the period. Clinton Group Inc. raised its stake in The New York Times by 32.0% in the second quarter. Clinton Group Inc. now owns 47,757 shares of the company’s stock valued at $578,000 after buying an additional 11,585 shares during the period. Hsbc Holdings PLC raised its stake in The New York Times by 7.0% in the second quarter. Hsbc Holdings PLC now owns 17,881 shares of the company’s stock valued at $216,000 after buying an additional 1,177 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in The New York Times by 322.7% in the second quarter. Thrivent Financial for Lutherans now owns 66,620 shares of the company’s stock valued at $806,000 after buying an additional 50,860 shares during the period. Institutional investors own 62.86% of the company’s stock.
The New York Times Company Profile
The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.
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