Zacks: Brokerages Expect New York Times Co (NYT) Will Post Earnings of $0.30 Per Share

Equities analysts expect New York Times Co (NYSE:NYT) to announce $0.30 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for New York Times’ earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.30. New York Times also reported earnings of $0.30 per share during the same quarter last year. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, February 8th.

On average, analysts expect that New York Times will report full year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.70 to $0.72. For the next year, analysts expect that the company will report earnings of $0.76 per share, with EPS estimates ranging from $0.61 to $0.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for New York Times.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. New York Times had a net margin of 6.02% and a return on equity of 13.46%. The business had revenue of $385.60 million during the quarter, compared to analysts’ expectations of $390.13 million. During the same quarter last year, the company posted $0.06 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of New York Times from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday. Jefferies Group reissued a “hold” rating and set a $18.00 target price on shares of New York Times in a report on Monday, October 16th. Finally, ValuEngine cut shares of New York Times from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.95.

Shares of New York Times (NYSE NYT) traded up $0.60 during trading on Friday, hitting $23.85. 808,544 shares of the company traded hands, compared to its average volume of 2,470,645. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27. New York Times has a 12-month low of $13.30 and a 12-month high of $24.00. The stock has a market capitalization of $3,818.80, a PE ratio of 32.71 and a beta of 1.65.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, January 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.67%. New York Times’s payout ratio is 26.67%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NYT. FMR LLC grew its position in shares of New York Times by 173.6% in the second quarter. FMR LLC now owns 2,430,179 shares of the company’s stock valued at $43,014,000 after purchasing an additional 1,542,000 shares during the period. Vanguard Group Inc. boosted its position in New York Times by 6.4% during the second quarter. Vanguard Group Inc. now owns 11,034,212 shares of the company’s stock worth $195,306,000 after acquiring an additional 664,069 shares during the last quarter. Teachers Advisors LLC boosted its position in New York Times by 145.6% during the second quarter. Teachers Advisors LLC now owns 677,421 shares of the company’s stock worth $11,990,000 after acquiring an additional 401,628 shares during the last quarter. JPMorgan Chase & Co. boosted its position in New York Times by 247.9% during the third quarter. JPMorgan Chase & Co. now owns 539,700 shares of the company’s stock worth $10,606,000 after acquiring an additional 384,565 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in New York Times by 11.4% during the second quarter. Renaissance Technologies LLC now owns 1,793,500 shares of the company’s stock worth $31,745,000 after acquiring an additional 183,000 shares during the last quarter. 67.82% of the stock is owned by institutional investors.

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New York Times 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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Earnings History and Estimates for New York Times (NYSE:NYT)

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