Posted by admin on Apr 27th, 2022
New York Times (NYSE:NYT – Get Rating) will issue its quarterly earnings data before the market opens on Wednesday, May 4th. Analysts expect the company to announce earnings of $0.19 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
New York Times (NYSE:NYT – Get Rating) last posted its earnings results on Wednesday, February 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The company had revenue of $594.23 million for the quarter, compared to analyst estimates of $579.98 million. New York Times had a return on equity of 15.09% and a net margin of 10.60%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, analysts expect New York Times to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.
NYT stock opened at $39.15 on Wednesday. New York Times has a one year low of $37.27 and a one year high of $56.19. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 30.35 and a beta of 0.82. The firm has a 50-day simple moving average of $44.37 and a two-hundred day simple moving average of $45.85.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Wednesday, April 6th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, April 5th. This is a positive change from New York Times’s previous quarterly dividend of $0.07. New York Times’s payout ratio is 27.91%.
New York Times declared that its board has initiated a stock buyback program on Wednesday, February 2nd that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
NYT has been the subject of several analyst reports. StockNews.com began coverage on New York Times in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research note on Friday, April 8th.
In other news, EVP Diane Brayton sold 9,999 shares of the stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $41.44, for a total value of $414,358.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 10,000 shares of the stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $42.78, for a total value of $427,800.00. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. LPL Financial LLC acquired a new position in shares of New York Times in the third quarter valued at about $555,000. Metropolitan Life Insurance Co NY grew its holdings in New York Times by 9.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 29,855 shares of the company’s stock worth $1,442,000 after acquiring an additional 2,671 shares during the period. Thrivent Financial for Lutherans grew its holdings in New York Times by 1.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 44,264 shares of the company’s stock worth $2,138,000 after acquiring an additional 434 shares during the period. Comerica Bank grew its holdings in New York Times by 0.6% during the fourth quarter. Comerica Bank now owns 76,401 shares of the company’s stock worth $2,923,000 after acquiring an additional 435 shares during the period. Finally, Amalgamated Bank grew its holdings in New York Times by 2.4% during the fourth quarter. Amalgamated Bank now owns 121,646 shares of the company’s stock worth $5,876,000 after acquiring an additional 2,848 shares during the period. 92.83% of the stock is currently owned by institutional investors and hedge funds.
New York Times Company Profile (Get Rating)
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It 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.
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