New York Times (NYSE:NYT) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

New York Times Trading Up 1.3 %

Shares of NYT traded up $0.68 during mid-day trading on Tuesday, hitting $53.13. 1,039,610 shares of the company’s stock were exchanged, compared to its average volume of 1,101,735. The business’s 50 day moving average is $54.78 and its two-hundred day moving average is $52.07. New York Times has a fifty-two week low of $41.02 and a fifty-two week high of $57.08. The firm has a market capitalization of $8.73 billion, a P/E ratio of 32.81 and a beta of 1.02.

New York Times Dividend Announcement

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

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays raised their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

Insider Activity

In other New York Times news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William Bardeen sold 2,000 shares of the company’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 owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.