New York Times (NYSE:NYT) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

New York Times (NYSE:NYT) had its target price increased by JPMorgan Chase & Co. from $58.00 to $62.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on NYT. Barclays boosted their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.43.

New York Times Price Performance

Shares of NYSE:NYT traded up $0.62 on Tuesday, reaching $56.42. The company’s stock had a trading volume of 148,997 shares, compared to its average volume of 1,108,225. New York Times has a 52-week low of $41.55 and a 52-week high of $57.08. The stock has a market capitalization of $9.27 billion, a P/E ratio of 33.01 and a beta of 1.02. The stock’s 50-day moving average is $54.79 and its two-hundred day moving average is $52.20.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. Equities analysts forecast that New York Times will post 1.83 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is 30.77%.

Insiders Place Their Bets

In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the completion of the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On New York Times

Several hedge funds have recently bought and sold shares of NYT. Commonwealth Equity Services LLC boosted its position in New York Times by 3.2% during the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock worth $744,000 after purchasing an additional 527 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of New York Times by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock worth $6,189,000 after buying an additional 1,854 shares during the last quarter. Duality Advisers LP acquired a new position in shares of New York Times during the 1st quarter worth $983,000. Quantbot Technologies LP purchased a new stake in shares of New York Times in the 1st quarter worth about $2,293,000. Finally, Swiss National Bank grew its stake in New York Times by 0.3% in the 1st quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after acquiring an additional 800 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.