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

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

New York Times Price Performance

Shares of New York Times stock opened at $53.25 on Wednesday. The stock has a market capitalization of $8.75 billion, a price-to-earnings ratio of 32.87 and a beta of 1.02. The business has a 50-day moving average of $54.74 and a 200 day moving average of $52.14. New York Times has a 12 month low of $41.02 and a 12 month high of $57.08.

New York Times Dividend Announcement

The company also recently disclosed 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 of this dividend 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 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 sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NYT shares. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price 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.