New York Times (NYT) Scheduled to Post Earnings on Wednesday

New York Times (NYSE:NYT) will issue its quarterly earnings data before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The company had revenue of $594.00 million for the quarter, compared to the consensus estimate of $591.97 million. During the same quarter in the previous year, the company earned $0.19 EPS. New York Times’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect New York Times to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

New York Times Trading Down 1.8 %

Shares of NYSE NYT opened at $51.10 on Tuesday. The firm’s 50-day moving average price is $51.71 and its 200-day moving average price is $47.38. New York Times has a 1-year low of $39.73 and a 1-year high of $55.63. The firm has a market capitalization of $8.40 billion, a P/E ratio of 34.07 and a beta of 1.06.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 1.02%. New York Times’s payout ratio is 34.67%.

Insider Buying and Selling at New York Times

In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the sale, the chief executive officer now owns 120,072 shares in the company, valued at approximately $5,729,835.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the sale, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares in the company, valued at approximately $5,729,835.84. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore ISI lifted their target price on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

About New York Times

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.