Zacks: Brokerages Anticipate New York Times Co (NYT) Will Announce Quarterly Sales of $406.62 Million

Brokerages predict that New York Times Co (NYSE:NYT) will post $406.62 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for New York Times’ earnings, with the lowest sales estimate coming in at $405.60 million and the highest estimate coming in at $407.63 million. New York Times posted sales of $398.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2%. The firm is expected to report its next earnings results before the market opens on Wednesday, May 2nd.

According to Zacks, analysts expect that New York Times will report full year sales of $1.71 billion for the current financial year, with estimates ranging from $1.71 billion to $1.72 billion. For the next year, analysts anticipate that the company will report sales of $1.76 billion per share, with estimates ranging from $1.75 billion to $1.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow New York Times.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.09. The firm had revenue of $484.00 million for the quarter, compared to analyst estimates of $467.30 million. New York Times had a return on equity of 14.84% and a net margin of 0.26%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS.

NYT has been the topic of a number of recent analyst reports. Barclays set a $20.00 price objective on New York Times and gave the stock a “hold” rating in a research report on Sunday, February 11th. Zacks Investment Research upgraded New York Times from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, January 31st. Finally, ValuEngine upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st.

In related news, Director Robert E. Denham sold 3,166 shares of New York Times stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.12, for a total transaction of $79,529.92. Following the sale, the director now directly owns 39,842 shares in the company, valued at $1,000,831.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP R Anthony Benten sold 7,875 shares of New York Times stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $24.73, for a total value of $194,748.75. Following the sale, the senior vice president now owns 47,781 shares in the company, valued at $1,181,624.13. The disclosure for this sale can be found here. Insiders have sold 3,130,164 shares of company stock worth $73,380,719 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new stake in shares of New York Times during the fourth quarter valued at approximately $246,000. MetLife Investment Advisors LLC bought a new stake in shares of New York Times during the fourth quarter valued at approximately $2,551,000. PEAK6 Investments L.P. bought a new stake in shares of New York Times during the fourth quarter valued at approximately $290,000. Millennium Management LLC bought a new stake in shares of New York Times during the fourth quarter valued at approximately $3,943,000. Finally, Meadow Creek Investment Management LLC boosted its position in shares of New York Times by 234.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 17,220 shares of the company’s stock valued at $319,000 after purchasing an additional 12,068 shares in the last quarter. Institutional investors own 72.31% of the company’s stock.

Shares of NYT stock opened at $22.45 on Tuesday. The company has a market capitalization of $3,667.25, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.91 and a beta of 1.73. New York Times has a fifty-two week low of $14.20 and a fifty-two week high of $25.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.80 and a current ratio of 1.80.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 19th. Investors of record on Wednesday, April 4th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, April 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.71%. New York Times’s dividend payout ratio is presently 20.00%.

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About New York Times

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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