The New York Times Company (NYSE:NYT) Announces Quarterly Dividend of $0.18

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Tuesday, April 1st will be given a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13.

New York Times has raised its dividend payment by an average of 22.9% per year over the last three years. New York Times has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.4%.

New York Times Stock Down 12.0 %

NYT stock opened at $49.21 on Thursday. The business’s fifty day simple moving average is $53.52 and its two-hundred day simple moving average is $54.12. New York Times has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. Research analysts expect that New York Times will post 1.84 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NYT shares. JPMorgan Chase & Co. increased their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com downgraded New York Times from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

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.