New York Times (NYSE:NYT) Posts Earnings Results

New York Times (NYSE:NYT) posted its quarterly earnings data on Monday. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04, Briefing.com reports. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year.

New York Times Price Performance

Shares of NYSE NYT opened at $53.25 on Wednesday. The firm’s 50 day simple moving average is $54.74 and its 200-day simple moving average is $52.14. New York Times has a 12 month low of $41.02 and a 12 month high of $57.08. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 32.87 and a beta of 1.02.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is presently 32.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays lifted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.43.

Insider Buying and Selling

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.