The New York Times Company to Issue Quarterly Dividend of $0.13 (NYSE:NYT)

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Thursday, January 9th will be given a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, January 9th.

New York Times has increased its dividend payment by an average of 22.2% annually over the last three years. New York Times has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.6%.

New York Times Trading Down 0.8 %

Shares of NYSE NYT opened at $52.87 on Friday. The firm’s 50-day moving average price is $54.69 and its 200-day moving average price is $53.74. The firm has a market capitalization of $8.67 billion, a P/E ratio of 31.28, a P/E/G ratio of 1.75 and a beta of 1.00. New York Times has a 1-year low of $41.55 and a 1-year high of $58.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NYT. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

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.