New York Times (NYSE:NYT) Reaches New 12-Month High – Here’s Why

Shares of The New York Times Company (NYSE:NYT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $72.83 and last traded at $72.4740, with a volume of 33303 shares traded. The stock had previously closed at $72.26.

New York Times News Roundup

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

• Positive Sentiment: 247WallStreet says NYT “turns out to be a good investment” as other legacy media scale back — highlights the Washington Post’s decision to cut Olympic on-site coverage and argues NYT’s subscription model and scale give it a competitive edge. New York Times Turns Out to Be a Good Investment as Media Falls Apart
• Neutral Sentiment: Coverage of ongoing national/security stories (Minneapolis/federal immigration enforcement) will likely sustain high engagement; hard news drives subscription retention and trial conversions. Far from Minneapolis, Memphis Remains Under a Different Federal Crackdown
• Neutral Sentiment: Sports and event-focused guides (Super Bowl 60 preview) generate predictable traffic spikes and advertising/sponsorship opportunities around major events. What to know about Super Bowl 60: Patriots-Seahawks history, halftime show and more
• Neutral Sentiment: Large weather events (multi-state winter storm, travel disruptions) are driving real-time live coverage and likely temporary traffic/engagement gains. Winter Storm Disrupts Air Travel Plans for Thousands on Monday
• Neutral Sentiment: Wide range of culture and arts pieces keep NYT’s lifestyle and arts audiences engaged — steady content mix helps subscription cross-sell but is not a singular catalyst. For This Influencer, Rejection Is the New Perfection
• Negative Sentiment: Valuation and liquidity considerations: NYT trades at a relatively rich P/E (~35) and intraday volume is well below average, which can amplify moves and limit near-term upside if growth disappoints.

Wall Street Analyst Weigh In

NYT has been the subject of a number of research reports. Barclays lifted their target price on New York Times from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. Evercore ISI restated an “outperform” rating on shares of New York Times in a research note on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Morgan Stanley set a $68.00 price target on New York Times in a research report on Thursday, December 18th. Finally, UBS Group set a $62.00 price objective on shares of New York Times in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $66.43.

New York Times Stock Performance

The company has a market cap of $11.72 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 1.58 and a beta of 1.12. The firm’s 50 day simple moving average is $68.22 and its 200-day simple moving average is $61.14.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. New York Times had a net margin of 12.29% and a return on equity of 20.30%. The firm had revenue of $700.82 million for the quarter, compared to the consensus estimate of $692.01 million. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Tuesday, January 6th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, January 6th. New York Times’s dividend payout ratio (DPR) is currently 35.12%.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently modified their holdings of NYT. Employees Retirement System of Texas acquired a new position in shares of New York Times during the 2nd quarter valued at about $28,000. Hantz Financial Services Inc. raised its stake in New York Times by 4,591.7% during the second quarter. Hantz Financial Services Inc. now owns 563 shares of the company’s stock worth $32,000 after purchasing an additional 551 shares during the period. True Wealth Design LLC boosted its holdings in New York Times by 519.6% in the 2nd quarter. True Wealth Design LLC now owns 570 shares of the company’s stock valued at $32,000 after purchasing an additional 478 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new stake in shares of New York Times in the 4th quarter valued at approximately $34,000. Finally, Larson Financial Group LLC increased its holdings in shares of New York Times by 59.6% during the 3rd quarter. Larson Financial Group LLC now owns 656 shares of the company’s stock worth $38,000 after buying an additional 245 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Company Profile

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.