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

The New York Times Company (NYSE:NYT)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $80.30 and last traded at $80.02, with a volume of 213996 shares traded. The stock had previously closed at $79.79.

New York Times News Summary

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

• Positive Sentiment: Management presented at the Morgan Stanley Technology, Media & Telecom conference this week, providing an investor update that typically reassures the market about subscription momentum and digital strategy. Read More.
• Positive Sentiment: Ongoing, live coverage of the Iran conflict is driving large-scale engagement — real-time reporting and live updates generally boost pageviews and subscriptions during major breaking-news events. Read More.
• Positive Sentiment: Energy-market reporting highlights an oil and natural-gas rally amid the conflict; this kind of market-moving coverage can increase premium readership and institutional/newsroom demand for timely analysis. Read More.
• Neutral Sentiment: Feature and analysis pieces (politics, law, health, arts and sports) published today add breadth to the paper’s offerings but are standard content drivers rather than discrete catalysts for the stock. Example: legal explainer on targeted killings. Read More.
• Neutral Sentiment: Business/finance coverage that attracts specialized audiences: a recent piece on Berkshire Hathaway’s final-quarter moves may draw finance readers but is not company-specific. Read More.
• Neutral Sentiment: Audience-engagement initiatives (calls for readers affected by immigration policy, local reporting) support subscriber growth over time but are incremental. Read More.

Analyst Ratings Changes

NYT has been the topic of several research analyst reports. Guggenheim set a $63.00 price target on shares of New York Times and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research report on Thursday, January 22nd. Barclays boosted their target price on New York Times from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on New York Times from $71.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Citigroup lowered their price objective on New York Times from $81.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average price target of $68.43.

New York Times Stock Up 1.2%

The stock’s fifty day moving average is $72.45 and its 200-day moving average is $64.70. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.49 and a beta of 1.09.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 4th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. New York Times had a return on equity of 21.02% and a net margin of 12.18%.The firm had revenue of $802.31 million for the quarter, compared to analyst estimates of $791.55 million. During the same period in the previous year, the company posted $0.80 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.18. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.1%. New York Times’s dividend payout ratio is 34.45%.

Insider Transactions at New York Times

In other New York Times news, CAO R Anthony Benten sold 1,913 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $73.57, for a total value of $140,739.41. Following the sale, the chief accounting officer owned 37,772 shares in the company, valued at approximately $2,778,886.04. The trade was a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently made changes to their positions in NYT. Caitong International Asset Management Co. Ltd boosted its holdings in New York Times by 9.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,125 shares of the company’s stock worth $217,000 after purchasing an additional 274 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of New York Times by 58.8% during the 4th quarter. Pacer Advisors Inc. now owns 43,351 shares of the company’s stock worth $3,009,000 after buying an additional 16,046 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of New York Times in the 4th quarter valued at about $262,000. Compound Planning Inc. increased its position in shares of New York Times by 20.5% in the fourth quarter. Compound Planning Inc. now owns 4,688 shares of the company’s stock valued at $325,000 after acquiring an additional 798 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in New York Times by 10.5% during the fourth quarter. Corient Private Wealth LLC now owns 24,973 shares of the company’s stock worth $1,734,000 after acquiring an additional 2,376 shares in the last quarter. 95.37% of the stock is currently 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.