Barclays Issues Positive Forecast for New York Times (NYSE:NYT) Stock Price

by · The Markets Daily

New York Times (NYSE:NYT – Free Report) had its price target hoisted by Barclays from $52.00 to $55.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Guggenheim raised their price target on New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Morgan Stanley lifted their target price on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Evercore ISI boosted their price objective on shares of New York Times from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.17.

View Our Latest Stock Analysis on New York Times

New York Times Stock Performance

NYSE NYT traded up $1.31 on Thursday, hitting $61.29. 3,201,443 shares of the stock traded hands, compared to its average volume of 1,737,932. The business’s fifty day moving average is $57.34 and its two-hundred day moving average is $56.04. New York Times has a 12 month low of $44.83 and a 12 month high of $62.24. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The firm had revenue of $700.82 million for the quarter, compared to analysts’ expectations of $692.01 million. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts expect that New York Times will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. New York Times’s dividend payout ratio is presently 37.11%.

Insider Buying and Selling at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $60.04, for a total transaction of $330,220.00. Following the sale, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This trade represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $58.04, for a total value of $290,200.00. Following the transaction, the executive vice president directly owned 11,243 shares in the company, valued at approximately $652,543.72. This represents a 30.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in New York Times by 78.1% in the second quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock worth $233,265,000 after purchasing an additional 1,836,788 shares during the last quarter. Abrams Bison Investments LLC purchased a new position in shares of New York Times in the second quarter worth about $78,932,000. Acadian Asset Management LLC increased its holdings in shares of New York Times by 383.0% in the first quarter. Acadian Asset Management LLC now owns 1,765,338 shares of the company’s stock worth $87,538,000 after buying an additional 1,399,865 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of New York Times by 210.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,609,513 shares of the company’s stock valued at $79,832,000 after acquiring an additional 1,091,430 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new stake in New York Times during the 3rd quarter valued at about $58,209,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

About New York Times

(Get Free Report)

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.

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