Brokerages Set The New York Times Company (NYSE:NYT) Price Target at $54.83

Shares of The New York Times Company (NYSE:NYT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $54.83.

NYT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target 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.

Institutional Investors Weigh In On New York Times

Institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. acquired a new stake in New York Times in the 4th quarter valued at $292,000. Hixon Zuercher LLC grew its stake in New York Times by 4.4% in the 4th quarter. Hixon Zuercher LLC now owns 13,052 shares of the company’s stock valued at $679,000 after buying an additional 556 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in New York Times by 60.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 128,136 shares of the company’s stock valued at $6,669,000 after buying an additional 48,329 shares during the last quarter. R Squared Ltd bought a new stake in New York Times in the 4th quarter valued at about $377,000. Finally, KBC Group NV boosted its holdings in New York Times by 2.1% in the 4th quarter. KBC Group NV now owns 77,531 shares of the company’s stock valued at $4,035,000 after purchasing an additional 1,614 shares during the period. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

New York Times stock opened at $53.68 on Thursday. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.51 and a beta of 1.00. New York Times has a one year low of $41.55 and a one year high of $58.16. The company’s fifty day moving average price is $53.36 and its two-hundred day moving average price is $54.04.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. During the same period in the prior year, the company earned $0.37 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that New York Times will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.97%. New York Times’s dividend payout ratio is 30.77%.

About New York Times

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.