New York Times (NYSE:NYT) Releases Earnings Results, Beats Estimates By $0.06 EPS

New York Times (NYSE:NYT) announced its quarterly earnings results on Wednesday. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06, Zacks reports. New York Times had a return on equity of 17.75% and a net margin of 11.04%.

New York Times Stock Down 12.6 %

New York Times stock traded down $7.02 during trading hours on Wednesday, reaching $48.87. 2,783,409 shares of the company’s stock were exchanged, compared to its average volume of 1,580,061. The firm’s 50 day simple moving average is $53.52 and its 200 day simple moving average is $54.12. New York Times has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market capitalization of $8.01 billion, a PE ratio of 29.19, a PEG ratio of 1.51 and a beta of 1.01.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NYT shares. JPMorgan Chase & Co. raised their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.