New York Times Co (NYSE:NYT) announced a quarterly dividend on Tuesday, June 30th, RTT News reports. Shareholders of record on Friday, July 10th will be given a dividend of 0.06 per share on Thursday, July 23rd. This represents a $0.24 annualized dividend and a yield of 0.57%.
New York Times has decreased its dividend by an average of 53.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. New York Times has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $1.05 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 22.9%.
NYSE NYT traded up $0.38 during midday trading on Tuesday, hitting $42.17. The company had a trading volume of 1,436,900 shares, compared to its average volume of 1,695,803. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 48.59 and a beta of 0.91. The firm has a fifty day simple moving average of $39.49 and a two-hundred day simple moving average of $34.91. New York Times has a fifty-two week low of $26.13 and a fifty-two week high of $43.32.
New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. New York Times had a net margin of 7.85% and a return on equity of 12.98%. The business had revenue of $443.60 million for the quarter, compared to analyst estimates of $438.88 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, research analysts anticipate that New York Times will post 0.75 EPS for the current year.
Several brokerages have recently weighed in on NYT. Cfra upgraded shares of New York Times from a “hold” rating to a “buy” rating and decreased their target price for the company from $40.00 to $38.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Barclays reiterated a “sell” rating and set a $20.00 target price on shares of New York Times in a research report on Friday, April 17th. Finally, ValuEngine lowered shares of New York Times from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.25.
New York Times Company Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
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