New York Times Company (The) (NYSE:NYT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “The New York Times Company’s strategic initiatives have helped propelled the stock that has outpaced the industry in a year. The company is diversifying its business, adding new revenue streams, strengthening its balance sheet and restructuring its portfolio. It had offloaded assets in order to re-focus on its core newspapers and pay more attention to its online activities. These endeavors have helped the company to post fifth straight quarter of positive earnings surprise, when it reported third-quarter 2017 results. However, total revenue fell short of the consensus estimate. Nevertheless, both the top and bottom lines grew year over year. The quarter marked an increase in digital subscribers, rise in digital advertising and subscription revenues but a fall in print advertising revenue. Total advertising revenue slid 9% during the quarter. Management expects the same to decline in the high single-digits in the final quarter.”

NYT has been the topic of several other reports. Jefferies Group LLC reiterated a “hold” rating and set a $18.00 price target on shares of New York Times Company (The) in a research note on Monday, October 16th. Barclays PLC lifted their price target on shares of New York Times Company (The) from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.45.

Shares of New York Times Company (NYT) opened at $17.10 on Monday. New York Times Company has a one year low of $10.98 and a one year high of $20.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market cap of $2,802.15, a price-to-earnings ratio of 24.03 and a beta of 1.67.

New York Times Company (The) (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. New York Times Company (The) had a net margin of 6.02% and a return on equity of 13.46%. The firm had revenue of $385.60 million for the quarter, compared to analyst estimates of $390.13 million. During the same period last year, the business earned $0.06 EPS. New York Times Company (The)’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts predict that New York Times Company will post 0.72 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of NYT. BlackRock Inc. grew its position in New York Times Company (The) by 16,731.5% during the 1st quarter. BlackRock Inc. now owns 12,681,224 shares of the company’s stock worth $182,610,000 after purchasing an additional 12,605,882 shares during the last quarter. FMR LLC grew its position in New York Times Company (The) by 173.6% during the 2nd quarter. FMR LLC now owns 2,430,179 shares of the company’s stock worth $43,014,000 after purchasing an additional 1,542,000 shares during the last quarter. Acadian Asset Management LLC grew its position in New York Times Company (The) by 382.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,776,811 shares of the company’s stock worth $31,447,000 after purchasing an additional 1,408,666 shares during the last quarter. Vanguard Group Inc. grew its position in New York Times Company (The) by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,034,212 shares of the company’s stock worth $195,306,000 after purchasing an additional 664,069 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in New York Times Company (The) by 145.6% during the 2nd quarter. Teachers Advisors LLC now owns 677,421 shares of the company’s stock worth $11,990,000 after purchasing an additional 401,628 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

About New York Times Company (The)

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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