The New York Times Company (NYSE:NYT) Declares Quarterly Dividend of $0.18

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Tuesday, April 1st will be given a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. This is a positive change from New York Times’s previous quarterly dividend of $0.13.

New York Times has increased its dividend by an average of 22.9% annually over the last three years. New York Times has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $2.05 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 25.4%.

New York Times Price Performance

Shares of NYSE NYT traded down $6.51 during mid-day trading on Wednesday, hitting $49.39. The company’s stock had a trading volume of 544,006 shares, compared to its average volume of 1,482,303. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. The company’s fifty day simple moving average is $53.49 and its 200-day simple moving average is $54.10. New York Times has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. On average, sell-side analysts predict that New York Times will post 1.84 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NYT. Deutsche Bank Aktiengesellschaft upped their price objective on 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. raised their target price on New York Times from $58.00 to $62.00 and gave the company 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 assigned a buy rating to the company. According to data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.