New York Times (NYSE:NYT) Stock Price Target Raised at Barclays

New York Times (NYSE:NYT) had its target price hoisted by Barclays from $63.00 to $64.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

NYT has been the topic of several other research reports. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. New Street Research set a $82.00 price target on shares of New York Times in a research note on Tuesday, September 15th. Guggenheim upgraded New York Times from a “neutral” rating to a “buy” rating and upped their price objective for the company from $70.00 to $82.00 in a research note on Tuesday, September 15th. UBS Group set a $82.00 target price on New York Times in a research report on Tuesday, September 15th. Finally, Weiss Ratings upgraded New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.80.

New York Times Stock Performance

Shares of NYT opened at $65.59 on Thursday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.72 and a beta of 0.89. New York Times has a 52 week low of $57.97 and a 52 week high of $87.10. The stock has a 50 day moving average price of $67.28 and a two-hundred day moving average price of $73.26.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. New York Times had a return on equity of 23.10% and a net margin of 13.41%. The business had revenue of $768.54 million during the quarter, compared to analyst estimates of $767.21 million. During the same period in the prior year, the firm posted $0.59 EPS. New York Times’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that New York Times will post 2.83 earnings per share for the current year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Wednesday, October 7th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, October 7th. This represents a $0.92 annualized dividend and a yield of 1.4%. New York Times’s payout ratio is presently 38.33%.

Institutional Trading of New York Times

Hedge funds have recently bought and sold shares of the company. Giverny Capital Inc. bought a new position in shares of New York Times in the 2nd quarter worth approximately $33,900,000. Renaissance Technologies LLC boosted its stake in shares of New York Times by 20.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,756,180 shares of the company’s stock worth $230,775,000 after acquiring an additional 465,600 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in shares of New York Times during the 1st quarter valued at $25,207,000. Assenagon Asset Management S.A. increased its stake in shares of New York Times by 416.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 224,075 shares of the company’s stock worth $14,274,000 after purchasing an additional 180,678 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of New York Times by 30.3% in the 1st quarter. Janus Henderson Group PLC now owns 761,118 shares of the company’s stock worth $63,740,000 after purchasing an additional 177,045 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Trending Headlines about New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Q3 results topped expectations. NYT reported earnings of $0.68 per share versus $0.65 expected and revenue of $768.54 million versus $767.21 million expected. Revenue rose 9.7% year over year, driven by digital subscriber growth, higher subscription revenue and stronger advertising, supporting margin expansion. The New York Times Q3 Earnings Beat on Digital Subscription Growth
• Neutral Sentiment: Reported Letterboxd deal adds strategic potential but uncertainty. NYT is reportedly in exclusive talks to acquire the film-review social platform for $330 million. The deal could broaden its digital offerings and audience, though the report does not specify financing or expected financial contribution. The New York Times reportedly in talks to buy Letterboxd for $330 million
• Negative Sentiment: Barclays remains cautious. The firm raised its price target from $63 to $64 but kept an “equal weight” rating; the revised target was below the recently cited share price, suggesting limited upside in its view. TickerReport coverage of Barclays’ NYT price-target revision

New York Times Company Profile

The New York Times Company (NYSE: NYT) is a media and technology company best known for publishing The New York Times, a daily newspaper founded in 1851 by Henry Jarvis Raymond and George Jones. The company produces journalism across national and international news, business, politics, culture, science, sports and other topics through print and digital platforms.

In addition to its core news operation, the company offers a range of subscription products and digital services, including NYT Cooking, Games, Audio and The Athletic, a subscription-based sports media platform.