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

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

New York Times Trading Down 0.3 %

NYT stock traded down $0.15 during midday trading on Thursday, reaching $55.79. The company had a trading volume of 290,123 shares, compared to its average volume of 1,105,482. New York Times has a 1 year low of $41.55 and a 1 year high of $57.08. The company has a 50 day moving average of $54.76 and a two-hundred day moving average of $52.17. The company has a market capitalization of $9.16 billion, a P/E ratio of 33.10 and a beta of 1.02.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.93%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays increased their price objective on 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 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.43.

Insider Buying and Selling

In related news, CFO William Bardeen sold 2,000 shares of the 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 completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO William Bardeen sold 2,000 shares of the company’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 value of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The trade was 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.