New York Times (NYSE:NYT) Announces Earnings Results

New York Times (NYSE:NYT) released its earnings results on Monday. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04, Briefing.com reports. The firm had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.95%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 EPS.

New York Times Price Performance

NYT stock traded down $0.42 during midday trading on Thursday, reaching $55.52. The company had a trading volume of 368,842 shares, compared to its average volume of 1,105,846. New York Times has a 1 year low of $41.55 and a 1 year high of $57.08. The company has a market capitalization of $9.12 billion, a P/E ratio of 33.10 and a beta of 1.02. The firm has a 50-day moving average price of $54.76 and a 200-day moving average price of $52.17.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value 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 $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $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.