New York Times (NYSE:NYT) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

by · The Markets Daily

New York Times (NYSE:NYT – Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04, Briefing.com reports. The company 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 17.45% and a net margin of 10.81%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS.

New York Times Trading Up 1.4 %

Shares of NYT traded up $0.72 during trading hours on Tuesday, reaching $53.17. 979,841 shares of the company’s stock traded hands, compared to its average volume of 1,101,455. The stock has a market cap of $8.73 billion, a PE ratio of 32.81 and a beta of 1.02. The firm’s 50 day simple moving average is $54.78 and its 200-day simple moving average is $52.07. New York Times has a 12 month low of $41.02 and a 12 month high of $57.08.

New York Times Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. New York Times’s dividend payout ratio (DPR) is presently 32.10%.

Insider Activity

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s 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 transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

NYT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays raised their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and a consensus price target of $53.43.

Read Our Latest Analysis on NYT

New York Times Company Profile

(Get Free Report)

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.

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