New York Times (NYSE:NYT) Hits New 12-Month High – Here’s Why

Shares of The New York Times Company (NYSE:NYTGet Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $74.27 and last traded at $73.8460, with a volume of 51833 shares trading hands. The stock had previously closed at $72.94.

Key Stories Impacting New York Times

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

Analysts Set New Price Targets

Several research firms have recently issued reports on NYT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a research note on Thursday, January 22nd. UBS Group set a $62.00 price target on New York Times in a research report on Thursday, November 6th. Evercore reiterated an “outperform” rating on shares of New York Times in a research report on Thursday, February 5th. Morgan Stanley set a $68.00 target price on shares of New York Times in a report on Thursday, December 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of New York Times from $71.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.43.

View Our Latest Report on New York Times

New York Times Stock Performance

The company has a market cap of $11.88 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 2.25 and a beta of 1.11. The business’s fifty day moving average is $70.53 and its two-hundred day moving average is $63.17.

New York Times (NYSE:NYTGet Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $802.31 million for the quarter, compared to analyst estimates of $791.55 million. New York Times had a net margin of 12.18% and a return on equity of 21.02%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Wednesday, April 1st will be issued a $0.23 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.92 annualized dividend and a dividend yield of 1.3%. This is a positive change from New York Times’s previous quarterly dividend of $0.18. New York Times’s dividend payout ratio (DPR) is currently 34.45%.

Institutional Trading of New York Times

Several institutional investors and hedge funds have recently made changes to their positions in the company. Navalign LLC purchased a new position in New York Times during the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its stake in shares of New York Times by 74.2% during the fourth quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after purchasing an additional 190 shares in the last quarter. International Assets Investment Management LLC purchased a new position in New York Times during the fourth quarter valued at approximately $32,000. SOA Wealth Advisors LLC. bought a new position in New York Times in the fourth quarter worth approximately $34,000. Finally, Employees Retirement System of Texas bought a new position in New York Times in the second quarter worth approximately $28,000. 95.37% of the stock is currently owned by institutional investors.

About New York Times

(Get Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

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