New York Times (NYSE:NYT) Reaches New 52-Week High – Here’s Why

The New York Times Company (NYSE:NYT)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $65.32 and last traded at $65.07, with a volume of 1970047 shares changing hands. The stock had previously closed at $64.63.

Wall Street Analyst Weigh In

NYT has been the topic of a number of research analyst reports. Guggenheim upped their target price on shares of New York Times from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. UBS Group set a $62.00 price objective on New York Times in a research note on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a report on Wednesday, October 8th. Barclays upped their target price on New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Evercore ISI reissued an “outperform” rating on shares of New York Times in a research report on Thursday, November 6th. Four investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.57.

New York Times Trading Up 0.7%

The firm has a 50-day simple moving average of $58.64 and a 200-day simple moving average of $57.16. The firm has a market cap of $10.56 billion, a P/E ratio of 33.54, a PEG ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million during the quarter, compared to analysts’ expectations of $692.01 million. During the same period in the prior year, the business posted $0.45 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Research analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Stockholders of record on Wednesday, October 8th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, October 8th. New York Times’s dividend payout ratio (DPR) is currently 35.12%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NYT. CIBC Private Wealth Group LLC boosted its stake in New York Times by 57.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,595 shares of the company’s stock valued at $149,000 after acquiring an additional 950 shares in the last quarter. Caerus Investment Advisors LLC purchased a new stake in shares of New York Times during the 3rd quarter valued at $413,000. Captrust Financial Advisors boosted its position in shares of New York Times by 31.6% in the 3rd quarter. Captrust Financial Advisors now owns 26,307 shares of the company’s stock worth $1,510,000 after purchasing an additional 6,322 shares in the last quarter. Danske Bank A S purchased a new position in New York Times during the 3rd quarter worth $1,436,000. Finally, Caitong International Asset Management Co. Ltd increased its position in New York Times by 4,425.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,851 shares of the company’s stock valued at $164,000 after buying an additional 2,788 shares in the last quarter. Institutional investors 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.