New York Times (NYSE:NYT) Issues Quarterly Earnings Results

New York Times (NYSE:NYT) issued its earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11, Briefing.com reports. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm had revenue of $594.00 million for the quarter, compared to the consensus estimate of $591.97 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was up 5.9% compared to the same quarter last year.

New York Times Stock Performance

Shares of New York Times stock traded down $0.27 during midday trading on Friday, reaching $47.72. 277,592 shares of the company’s stock traded hands, compared to its average volume of 1,272,027. The stock has a 50 day moving average of $43.57 and a 200-day moving average of $44.91. New York Times has a 12 month low of $35.06 and a 12 month high of $49.87. The company has a market cap of $7.83 billion, a PE ratio of 34.51 and a beta of 1.00.

Analyst Ratings Changes

Several brokerages have commented on NYT. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Citigroup began coverage on shares of New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Monday, March 4th. Finally, Evercore ISI raised their price target on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Insiders Place Their Bets

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now owns 90,759 shares of the company’s stock, valued at $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other New York Times news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at approximately $1,684,126.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now directly owns 90,759 shares in the company, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,557 shares of company stock worth $1,029,968. Company insiders own 2.00% 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.