New York Times (NYSE:NYT) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

New York Times (NYSE:NYT) issued its quarterly earnings data on Wednesday. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11, Briefing.com reports. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm had revenue of $594.00 million for the quarter, compared to analyst estimates of $591.97 million. During the same period in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year.

New York Times Stock Up 0.1 %

New York Times stock opened at $46.25 on Wednesday. The firm has a market capitalization of $7.59 billion, a P/E ratio of 33.27 and a beta of 1.00. New York Times has a 52-week low of $35.06 and a 52-week high of $49.87. The firm has a fifty day moving average of $43.42 and a 200-day moving average of $44.87.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup started coverage on New York Times in a research note on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, March 4th. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.67.

Insider Buying and Selling

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the transaction, the chief executive officer now directly owns 90,759 shares in the company, valued at $4,003,379.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David S. Perpich sold 3,014 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares of the company’s stock, valued at $916,396.39. The disclosure for this sale can be found here. Insiders have sold 23,557 shares of company stock valued at $1,029,968 in the last quarter. Company 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.