New York Times (NYSE:NYT) Issues Earnings Results, Beats Expectations By $0.04 EPS

New York Times (NYSE:NYT) announced its quarterly earnings data on Monday. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04, Briefing.com reports. New York Times had a net margin of 11.04% and a return on equity of 17.95%. The company had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. During the same quarter last year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis.

New York Times Stock Down 0.3 %

Shares of New York Times stock traded down $0.15 on Thursday, hitting $55.79. The company’s stock had a trading volume of 290,123 shares, compared to its average volume of 1,105,482. New York Times has a 52-week low of $41.55 and a 52-week high of $57.08. The company has a market capitalization of $9.16 billion, a P/E ratio of 33.10 and a beta of 1.02. The firm has a fifty day moving average price of $54.76 and a 200-day moving average price of $52.17.

New York Times Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.93%. New York Times’s dividend payout ratio is currently 30.77%.

Insider Transactions at New York Times

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the subject of several recent research reports. Barclays boosted their price target on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted 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 report on Tuesday. Finally, JPMorgan Chase & Co. boosted 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 report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus target price of $53.43.

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.