The New York Times Company (NYSE:NYT) Stock Has Consensus Target Price of $82.70

Shares of The New York Times Company (NYSE:NYT) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $82.80.

A number of analysts have recently weighed in on the company. New Street Research set a $82.00 target price on New York Times in a research report on Tuesday, September 15th. UBS Group set a $82.00 price target on New York Times in a research report on Tuesday, September 15th. Zacks Research cut New York Times from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded shares of New York Times from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Guggenheim raised shares of New York Times from a “neutral” rating to a “buy” rating and upped their price target for the stock from $70.00 to $82.00 in a report on Tuesday, September 15th.

New York Times Trading Up 0.7%

Shares of NYT opened at $72.67 on Wednesday. The company’s fifty day simple moving average is $67.47 and its 200 day simple moving average is $73.26. New York Times has a 1-year low of $58.87 and a 1-year high of $87.10. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.78 and a beta of 0.89.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. New York Times had a return on equity of 23.06% and a net margin of 13.41%. The company had revenue of $768.54 million during the quarter, compared to analysts’ expectations of $767.21 million. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that New York Times will post 2.95 earnings per share for the current year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Wednesday, October 7th. New York Times’s dividend payout ratio (DPR) is presently 36.80%.

Key Stories Impacting New York Times

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks characterized NYT as a top long-term growth stock, which may support investor confidence in its growth outlook. Why New York Times Co. (NYT) is a Top Growth Stock for the Long-Term
• Positive Sentiment: A separate report put analysts’ consensus price target at $82.70, indicating generally favorable expectations for the shares. The New York Times Company Stock Has Consensus Price Target of $82.70 According to Analysts
• Neutral Sentiment: Coverage of elevated inflation and possible Federal Reserve rate increases points to a broader market headwind: higher rates can pressure equity valuations, though the article does not identify a specific impact on NYT. Elevated Inflation Keeps Pressure on Fed to Raise Rates

Institutional Investors Weigh In On New York Times

Several hedge funds have recently modified their holdings of NYT. Basecamp Wealth Advisors LLC grew its position in New York Times by 1,191.7% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock worth $26,000 after acquiring an additional 286 shares during the last quarter. Root Financial Partners LLC acquired a new position in New York Times in the 3rd quarter worth about $41,000. Bessemer Group Inc. raised its position in New York Times by 34.4% in the first quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock valued at $58,000 after purchasing an additional 176 shares during the last quarter. Compass Wealth Management LLC bought a new position in New York Times in the third quarter valued at about $59,000. Finally, Provenance Wealth Advisors LLC acquired a new stake in shares of New York Times during the third quarter valued at about $61,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

About New York Times

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects. Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.