New York Times Co (NYSE:NYT) Given Average Recommendation of “Buy” by Analysts

Shares of New York Times Co (NYSE:NYT) have been given an average rating of “Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $32.50.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of New York Times from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine upgraded shares of New York Times from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, Cannonball Research upgraded shares of New York Times to a “buy” rating and set a $41.00 price target for the company in a research report on Monday, March 18th.

Shares of NYSE:NYT opened at $32.22 on Wednesday. The stock has a market cap of $5.60 billion, a P/E ratio of 39.78 and a beta of 1.22. New York Times has a 52 week low of $21.34 and a 52 week high of $34.87. The company has a 50 day moving average price of $33.37.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.08. The business had revenue of $439.10 million during the quarter, compared to the consensus estimate of $433.92 million. New York Times had a net margin of 7.55% and a return on equity of 13.76%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. On average, research analysts predict that New York Times will post 0.86 EPS for the current fiscal year.

In other New York Times news, CEO Mark Thompson sold 45,000 shares of the company’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 value of $1,542,150.00. Following the transaction, the chief executive officer now owns 384,247 shares in the company, valued at approximately $13,168,144.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP R Anthony Benten sold 9,815 shares of the company’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 completion of the transaction, the senior vice president now owns 36,010 shares in the company, valued at approximately $1,232,982.40. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of New York Times by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 112,162 shares of the company’s stock worth $2,596,000 after purchasing an additional 24,629 shares during the last quarter. Comerica Bank grew its holdings in shares of New York Times by 2.1% during the fourth quarter. Comerica Bank now owns 90,930 shares of the company’s stock worth $2,381,000 after purchasing an additional 1,890 shares during the last quarter. BlackRock Inc. grew its holdings in shares of New York Times by 3.2% during the fourth quarter. BlackRock Inc. now owns 16,647,240 shares of the company’s stock worth $371,070,000 after purchasing an additional 514,205 shares during the last quarter. Ffcm LLC grew its holdings in shares of New York Times by 172.9% during the fourth quarter. Ffcm LLC now owns 6,694 shares of the company’s stock worth $149,000 after purchasing an additional 4,241 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its holdings in shares of New York Times by 24.6% during the fourth quarter. ETRADE Capital Management LLC now owns 15,339 shares of the company’s stock worth $342,000 after purchasing an additional 3,026 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

About New York Times

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.

Further Reading: Market Capitalization in the Stock Market

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