The New York Times Company (NYSE:NYT) Announces $0.13 Quarterly Dividend

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Thursday, January 9th will be given a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 annualized dividend and a yield of 0.98%.

New York Times has raised its dividend by an average of 22.2% per year over the last three years. New York Times has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect New York Times to earn $2.03 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 25.6%.

New York Times Price Performance

Shares of NYT opened at $53.27 on Friday. The business has a 50-day moving average of $54.74 and a 200-day moving average of $53.73. New York Times has a 1 year low of $41.55 and a 1 year high of $58.16. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that New York Times will post 1.84 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and a consensus 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.