Barclays Boosts New York Times (NYSE:NYT) Price Target to $37.00

Posted by Defense World Staff on Aug 13th, 2023

New York Times (NYSE:NYT – Free Report) had its target price hoisted by Barclays from $36.00 to $37.00 in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

Separately, StockNews.com lowered New York Times from a buy rating to a hold rating in a research note on Thursday, May 11th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, New York Times presently has an average rating of Hold and a consensus target price of $42.00.

View Our Latest Analysis on NYT

New York Times Stock Up 0.5 %

New York Times stock opened at $44.35 on Wednesday. The business has a 50 day moving average price of $39.80 and a two-hundred day moving average price of $38.60. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 41.84 and a beta of 1.02. New York Times has a 12 month low of $27.58 and a 12 month high of $45.30.

New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $590.85 million during the quarter, compared to analysts’ expectations of $580.56 million. New York Times had a return on equity of 14.81% and a net margin of 7.45%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, analysts expect that New York Times will post 1.41 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Tuesday, July 11th were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, July 10th. This represents a $0.44 annualized dividend and a dividend yield of 0.99%. New York Times’s dividend payout ratio is currently 41.51%.

Institutional Investors Weigh In On New York Times

Large investors have recently modified their holdings of the stock. Private Trust Co. NA bought a new stake in New York Times during the 2nd quarter worth approximately $30,000. Compass Wealth Management LLC bought a new stake in New York Times during the 4th quarter worth approximately $30,000. Harvest Fund Management Co. Ltd grew its position in New York Times by 68.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,055 shares of the company’s stock worth $34,000 after acquiring an additional 430 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in New York Times during the 4th quarter worth approximately $37,000. Finally, Pinebridge Investments L.P. bought a new stake in New York Times during the 2nd quarter worth approximately $39,000. 89.60% of the stock is currently owned by institutional investors.

About New York Times

(Get Free Report)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.