New York Times (NYSE:NYT) Reaches New 12-Month High – Time to Buy?

The New York Times Company (NYSE:NYT) shares reached a new 52-week high on Monday . The stock traded as high as $58.09 and last traded at $58.01, with a volume of 140472 shares traded. The stock had previously closed at $56.23.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Price Performance

The firm’s 50 day moving average is $54.78 and its 200 day moving average is $53.47. The company has a market cap of $9.51 billion, a PE ratio of 33.27, a PEG ratio of 1.78 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same period in the previous year, the business posted $0.37 earnings per share. New York Times’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts anticipate that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.90%. New York Times’s payout ratio is 30.77%.

Institutional Investors Weigh In On New York Times

A number of hedge funds have recently made changes to their positions in NYT. Franklin Resources Inc. boosted its position in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares during the period. Tidal Investments LLC boosted its position in New York Times by 17.4% during the 3rd quarter. Tidal Investments LLC now owns 20,715 shares of the company’s stock valued at $1,153,000 after buying an additional 3,071 shares during the period. Sanctuary Advisors LLC purchased a new stake in New York Times during the 3rd quarter valued at $278,000. Coldstream Capital Management Inc. boosted its position in New York Times by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock valued at $260,000 after buying an additional 193 shares during the period. Finally, Synergy Financial Group LTD bought a new position in New York Times in the 3rd quarter worth $217,000. 95.37% of the stock is currently owned by institutional investors.

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.