New York Times (NYSE:NYT) Reaches New 12-Month High – Time to Buy?

The New York Times Company (NYSE:NYT) shares reached a new 52-week high on Monday . The stock traded as high as $58.09 and last traded at $58.01, with a volume of 140472 shares. The stock had previously closed at $56.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NYT shares. JPMorgan Chase & Co. increased their price objective on shares of 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 price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Stock Up 3.1 %

The stock has a market capitalization of $9.51 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The business’s 50 day simple moving average is $54.78 and its two-hundred day simple moving average is $53.47.

New York Times (NYSE:NYT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same period last year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts predict that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s payout ratio is currently 30.77%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. UMB Bank n.a. raised its position in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the period. Signaturefd LLC raised its position in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares during the period. Blue Trust Inc. raised its position in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after acquiring an additional 1,800 shares during the period. GAMMA Investing LLC raised its position in New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after acquiring an additional 698 shares during the period. Finally, Paladin Wealth LLC bought a new stake in New York Times in the third quarter worth about $172,000. 95.37% of the stock is owned by institutional investors.

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.