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

Shares of The New York Times Company (NYSE:NYT) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.71.

A number of equities research analysts have recently issued reports on NYT shares. JPMorgan Chase & Co. upped their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th.

New York Times Stock Down 1.6 %

Shares of NYT stock opened at $47.99 on Monday. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. New York Times has a 12-month low of $41.55 and a 12-month high of $58.16. The firm has a fifty day moving average of $52.07 and a 200-day moving average of $53.75.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Research analysts expect that New York Times will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 40.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its position in shares of New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares in the last quarter. Comgest Global Investors S.A.S. grew its position in shares of New York Times by 3.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after purchasing an additional 14,407 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of New York Times by 95.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after purchasing an additional 40,058 shares in the last quarter. Clark & Stuart Inc acquired a new position in shares of New York Times during the 4th quarter worth approximately $8,490,000. Finally, Park Avenue Securities LLC grew its position in shares of New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock worth $728,000 after purchasing an additional 9,823 shares in the last quarter. Institutional investors and hedge funds own 95.37% 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.