Brokerages expect New York Times Company (The) (NYSE:NYT) to announce $388.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for New York Times Company (The)’s earnings. The lowest sales estimate is $388.00 million and the highest is $388.03 million. New York Times Company (The) reported sales of $363.55 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The firm is scheduled to announce its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that New York Times Company (The) will report full-year sales of $388.02 million for the current financial year. For the next fiscal year, analysts forecast that the business will post sales of $1.71 billion per share, with estimates ranging from $1.69 billion to $1.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for New York Times Company (The).
New York Times Company (The) (NYSE:NYT) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $407.10 million during the quarter, compared to analyst estimates of $393.07 million. New York Times Company (The) had a return on equity of 12.76% and a net margin of 4.12%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share.
Several brokerages have weighed in on NYT. Barclays PLC boosted their price target on New York Times Company (The) from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded New York Times Company (The) from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. New York Times Company (The) presently has an average rating of “Hold” and an average target price of $15.20.
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In other news, CFO James M. Follo sold 138,161 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $18.97, for a total transaction of $2,620,914.17. Following the completion of the sale, the chief financial officer now directly owns 136,523 shares in the company, valued at approximately $2,589,841.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $19.27, for a total value of $10,049,305.00. Following the sale, the insider now owns 19,353,000 shares of the company’s stock, valued at $372,932,310. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new stake in shares of New York Times Company (The) during the 2nd quarter worth $876,000. Verition Fund Management LLC acquired a new stake in shares of New York Times Company (The) during the 2nd quarter worth $242,000. The Manufacturers Life Insurance Company increased its holdings in shares of New York Times Company (The) by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 273,206 shares of the company’s stock worth $4,836,000 after buying an additional 3,183 shares during the last quarter. State Street Corp increased its holdings in shares of New York Times Company (The) by 2.3% during the 2nd quarter. State Street Corp now owns 4,112,961 shares of the company’s stock worth $72,796,000 after buying an additional 90,840 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of New York Times Company (The) by 65.7% during the 2nd quarter. Royal Bank of Canada now owns 74,573 shares of the company’s stock worth $1,320,000 after buying an additional 29,570 shares during the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Wednesday, October 4th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $0.16 annualized dividend and a yield of 0.84%. New York Times Company (The)’s dividend payout ratio (DPR) is presently 40.00%.
New York Times Company (The) Company Profile
The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.
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