New York Times (NYSE:NYT) Shares Gap Down – What’s Next?

The New York Times Company (NYSE:NYT)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $55.89, but opened at $53.25. New York Times shares last traded at $49.27, with a volume of 188,385 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NYT shares. 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, November 5th. Morgan Stanley dropped their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.71.

New York Times Stock Up 0.1 %

The firm has a market capitalization of $8.08 billion, a P/E ratio of 29.17, a P/E/G ratio of 1.51 and a beta of 1.01. The stock has a fifty day moving average of $53.41 and a 200-day moving average of $54.09.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating 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%. Sell-side analysts predict that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.46%. New York Times’s dividend payout ratio (DPR) is 30.77%.

Institutional Investors Weigh In On New York Times

A number of large investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in shares of New York Times during the 4th quarter worth $4,307,000. Raymond James Financial Inc. acquired a new stake in shares of New York Times in the 4th quarter valued at approximately $1,544,000. Arizona State Retirement System grew its holdings in shares of New York Times by 0.7% during the 4th quarter. Arizona State Retirement System now owns 45,064 shares of the company’s stock valued at $2,346,000 after purchasing an additional 330 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in New York Times during the 4th quarter worth approximately $1,200,000. Finally, M&T Bank Corp grew its stake in shares of New York Times by 9.6% during the fourth quarter. M&T Bank Corp now owns 11,662 shares of the company’s stock worth $607,000 after buying an additional 1,024 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.