The New York Times Company (NYSE:NYT) Given Average Rating of “Moderate Buy” by Brokerages

The New York Times Company (NYSE:NYT) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $46.71.

NYT has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, March 4th. Finally, Citigroup initiated coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price target for the company.

New York Times Trading Up 0.5 %

NYT opened at $49.50 on Friday. New York Times has a 12-month low of $35.06 and a 12-month high of $49.87. The firm has a market capitalization of $8.13 billion, a PE ratio of 33.00 and a beta of 1.00. The firm has a 50 day moving average of $44.52 and a two-hundred day moving average of $45.42.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. The company had revenue of $594.00 million during the quarter, compared to analyst estimates of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. New York Times’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.19 EPS. As a group, analysts predict that New York Times will post 1.77 EPS for the current fiscal year.

Insider Buying and Selling

In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the sale, the chief executive officer now owns 120,072 shares of the company’s stock, valued at approximately $5,729,835.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its position in shares of New York Times by 9.6% during the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after acquiring an additional 232 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of New York Times by 2.3% during the 3rd quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after acquiring an additional 276 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of New York Times by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock valued at $2,922,000 after acquiring an additional 360 shares during the last quarter. Hall Laurie J Trustee boosted its position in shares of New York Times by 0.6% during the 1st quarter. Hall Laurie J Trustee now owns 74,860 shares of the company’s stock valued at $3,236,000 after acquiring an additional 410 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of New York Times by 1.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 24,576 shares of the company’s stock valued at $1,013,000 after acquiring an additional 420 shares during the last quarter. Institutional investors and hedge funds own 95.37% 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.