New York Times (NYSE:NYT) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

New York Times (NYSE:NYT) issued its earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04, Briefing.com reports. The company had revenue of $640.20 million during the quarter, compared to analyst estimates of $641.00 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS.

New York Times Trading Up 1.3 %

NYSE NYT traded up $0.68 on Tuesday, reaching $53.13. 1,039,610 shares of the company were exchanged, compared to its average volume of 1,101,735. The business’s fifty day moving average price is $54.78 and its 200 day moving average price is $52.07. The stock has a market capitalization of $8.73 billion, a P/E ratio of 32.81 and a beta of 1.02. New York Times has a fifty-two week low of $41.02 and a fifty-two week high of $57.08.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.98%. New York Times’s dividend payout ratio is presently 32.10%.

Insider Transactions at New York Times

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NYT. JPMorgan Chase & Co. upped their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped 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. Finally, Barclays raised their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.