New York Times Co (NYT) Receives Consensus Rating of “Buy” from Analysts

Shares of New York Times Co (NYSE:NYT) have earned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $32.50.

A number of equities analysts have recently issued reports on NYT shares. Cannonball Research raised New York Times to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, March 18th. ValuEngine raised New York Times from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research raised shares of New York Times from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective on the stock in a report on Monday, May 13th.

New York Times stock traded up $0.38 during trading on Friday, reaching $33.02. The company had a trading volume of 45,389 shares, compared to its average volume of 1,797,604. New York Times has a 52 week low of $21.34 and a 52 week high of $34.87. The stock has a market cap of $5.42 billion, a P/E ratio of 40.72 and a beta of 1.22.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.08. The business had revenue of $439.10 million for the quarter, compared to analysts’ expectations of $433.92 million. New York Times had a return on equity of 13.76% and a net margin of 7.55%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. As a group, equities research analysts anticipate that New York Times will post 0.86 EPS for the current fiscal year.

In related news, CEO Mark Thompson sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $34.27, for a total transaction of $1,542,150.00. Following the transaction, the chief executive officer now owns 384,247 shares of the company’s stock, valued at $13,168,144.69. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP R Anthony Benten sold 9,815 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $34.24, for a total transaction of $336,065.60. Following the transaction, the senior vice president now directly owns 36,010 shares in the company, valued at approximately $1,232,982.40. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock valued at $1,911,316 over the last three months. 2.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NYT. Capital Investment Advisory Services LLC bought a new position in shares of New York Times in the fourth quarter valued at approximately $43,000. Blume Capital Management Inc. raised its position in shares of New York Times by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 2,000 shares of the company’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of New York Times by 2,331.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,230,653 shares of the company’s stock worth $55,000 after acquiring an additional 1,180,042 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of New York Times by 65.9% in the first quarter. Fifth Third Bancorp now owns 1,745 shares of the company’s stock worth $57,000 after acquiring an additional 693 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of New York Times in the fourth quarter worth $83,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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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