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

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

A number of other brokerages also recently commented on NYT. Zacks Investment Research raised shares of New York Times from a sell rating to a hold rating and set a $32.00 price objective on the stock in a research report on Wednesday, October 23rd. Guggenheim initiated coverage on shares of New York Times in a research report on Wednesday, October 9th. They issued a neutral rating and a $27.50 target price for the company. Finally, Evercore ISI set a $38.00 target price on shares of New York Times and gave the stock a buy rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $34.63.

Shares of NYSE NYT opened at $31.23 on Tuesday. New York Times has a one year low of $21.34 and a one year high of $36.25. The business has a 50-day moving average price of $31.00 and a two-hundred day moving average price of $31.59. The firm has a market capitalization of $5.35 billion, a PE ratio of 38.56 and a beta of 1.17.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, November 6th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $428.50 million for the quarter, compared to the consensus estimate of $428.35 million. New York Times had a return on equity of 12.63% and a net margin of 7.03%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities research analysts forecast that New York Times will post 0.82 EPS for the current fiscal year.

In related news, CEO Mark Thompson sold 66,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $30.89, for a total transaction of $2,038,740.00. Following the transaction, the chief executive officer now owns 318,247 shares of the company’s stock, valued at $9,830,649.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arthur Sulzberger, Jr. sold 136,650 shares of New York Times stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.23, for a total transaction of $4,267,579.50. Following the completion of the sale, the director now owns 487,303 shares of the company’s stock, valued at $15,218,472.69. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of New York Times in the 2nd quarter valued at $32,000. Trustcore Financial Services LLC acquired a new position in New York Times during the second quarter worth $41,000. Ropes Wealth Advisors LLC bought a new position in New York Times during the third quarter valued at about $57,000. Smithfield Trust Co. bought a new position in New York Times during the third quarter valued at about $77,000. Finally, Quest Capital Management Inc. ADV bought a new position in New York Times during the third quarter valued at about $130,000. 92.53% 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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