New York Times (NYSE:NYT) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of New York Times (NYSE:NYT) from a sell rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Several other research firms have also weighed in on NYT. Guggenheim assumed coverage on shares of New York Times in a report on Wednesday, October 9th. They set a neutral rating and a $27.50 price objective for the company. Zacks Investment Research raised shares of New York Times from a sell rating to a hold rating and set a $32.00 price objective for the company in a report on Wednesday, September 11th. Finally, Evercore ISI set a $38.00 price objective on shares of New York Times and gave the stock a buy rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. New York Times currently has a consensus rating of Hold and a consensus price target of $31.30.

NYSE:NYT opened at $29.51 on Tuesday. New York Times has a 12-month low of $21.34 and a 12-month high of $36.25. The firm has a market capitalization of $4.76 billion, a PE ratio of 36.43 and a beta of 1.17. The firm has a 50-day moving average price of $29.14 and a 200 day moving average price of $32.12.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $436.30 million during the quarter, compared to analyst estimates of $439.20 million. New York Times had a net margin of 7.55% and a return on equity of 13.40%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. Equities research analysts expect that New York Times will post 0.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, October 1st. New York Times’s payout ratio is 24.69%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in shares of New York Times by 3.6% during the second quarter. Commonwealth Equity Services LLC now owns 8,633 shares of the company’s stock worth $281,000 after buying an additional 300 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of New York Times by 2.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 26,250 shares of the company’s stock worth $856,000 after buying an additional 510 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of New York Times in the second quarter valued at approximately $4,843,000. Waverton Investment Management Ltd increased its holdings in shares of New York Times by 1.9% in the second quarter. Waverton Investment Management Ltd now owns 24,605 shares of the company’s stock valued at $803,000 after purchasing an additional 454 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of New York Times in the second quarter valued at approximately $80,000. 91.16% of the stock is owned by institutional investors.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company 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.

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