Jefferies Group reaffirmed their hold rating on shares of The New York Times Co. (NYSE:NYT) in a research note issued to investors on Wednesday morning. Jefferies Group currently has a $13.00 target price on the stock.
Several other brokerages have also recently weighed in on NYT. TheStreet upgraded shares of The New York Times from a hold rating to a buy rating in a research report on Thursday, August 4th. Zacks Investment Research cut shares of The New York Times from a buy rating to a hold rating in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $13.60.
The New York Times (NYSE:NYT) traded down 0.66% during midday trading on Wednesday, hitting $11.97. 330,075 shares of the stock traded hands. The firm’s 50-day moving average is $12.72 and its 200-day moving average is $12.49. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 36.94 and a beta of 1.82. The New York Times has a 52-week low of $11.45 and a 52-week high of $14.27.
The New York Times (NYSE:NYT) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The New York Times had a net margin of 3.36% and a return on equity of 13.70%. The company had revenue of $372.60 million for the quarter, compared to analysts’ expectations of $377.15 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The New York Times’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts predict that The New York Times will post $0.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, October 3rd. The New York Times’s dividend payout ratio (DPR) is 50.00%.
In other news, EVP Kenneth A. Richieri sold 24,942 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $12.95, for a total transaction of $322,998.90. Following the completion of the sale, the executive vice president now directly owns 50,203 shares of the company’s stock, valued at $650,128.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Levien Meredith A. Kopit sold 26,728 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were 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. Company insiders own 6.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in shares of The New York Times by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 8,226 shares of the company’s stock worth $100,000 after buying an additional 517 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of The New York Times during the second quarter worth about $109,000. Barclays PLC raised its stake in shares of The New York Times by 235.4% in the second quarter. Barclays PLC now owns 9,919 shares of the company’s stock worth $120,000 after buying an additional 6,962 shares in the last quarter. LMR Partners LLP bought a new stake in shares of The New York Times during the second quarter worth about $125,000. Finally, Pacad Investment Ltd. bought a new stake in shares of The New York Times during the second quarter worth about $125,000. 62.86% of the stock is owned by hedge funds and other institutional investors.
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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