The New York Times Company (NYSE:NYT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of The New York Times Company (NYSE:NYT) have received an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $56.00.

Several equities research analysts have recently weighed in on NYT shares. Morgan Stanley decreased their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th.

Institutional Investors Weigh In On New York Times

Institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in shares of New York Times by 228.3% during the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after purchasing an additional 1,764,078 shares during the period. Squarepoint Ops LLC boosted its stake in New York Times by 210.5% during the 4th quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company’s stock valued at $71,969,000 after purchasing an additional 937,354 shares during the period. Millennium Management LLC increased its position in New York Times by 133.6% during the fourth quarter. Millennium Management LLC now owns 1,559,837 shares of the company’s stock worth $81,190,000 after acquiring an additional 892,155 shares during the period. Alliancebernstein L.P. raised its position in shares of New York Times by 87.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock valued at $99,336,000 after buying an additional 891,249 shares during the last quarter. Finally, Darsana Capital Partners LP raised its holdings in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after acquiring an additional 750,000 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Performance

NYT opened at $48.69 on Friday. The stock has a market capitalization of $7.95 billion, a PE ratio of 27.35, a P/E/G ratio of 1.75 and a beta of 1.18. New York Times has a one year low of $41.55 and a one year high of $58.16. The business’s 50 day moving average price is $50.37 and its 200 day moving average price is $52.96.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. As a group, equities research analysts forecast that New York Times will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times’s dividend payout ratio is 40.45%.

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.