Analysts Set New York Times Co (NYT) Price Target at $32.50

New York Times Co (NYSE:NYT) has received a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.50.

Several research firms have recently issued reports on NYT. Zacks Investment Research raised shares of New York Times from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. ValuEngine raised shares of New York Times from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, Cannonball Research raised shares of New York Times to a “buy” rating and set a $41.00 price objective for the company in a research report on Monday, March 18th.

In other news, insider Arthur G. Sulzberger sold 1,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $33.10, for a total value of $33,100.00. Following the completion of the transaction, the insider now directly owns 39,638 shares in the company, valued at $1,312,017.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP R Anthony Benten sold 9,815 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $34.24, for a total transaction of $336,065.60. Following the completion of the transaction, the senior vice president now owns 36,010 shares of the company’s stock, valued at $1,232,982.40. The disclosure for this sale can be found here. Insiders sold 55,815 shares of company stock valued at $1,911,316 over the last 90 days. Insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Treasurer State of Michigan boosted its stake in New York Times by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 50,600 shares of the company’s stock valued at $1,662,000 after acquiring an additional 300 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in New York Times by 1.7% during the 1st quarter. Waverton Investment Management Ltd now owns 24,151 shares of the company’s stock valued at $793,000 after acquiring an additional 396 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in New York Times by 5.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,076 shares of the company’s stock valued at $298,000 after acquiring an additional 454 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in New York Times by 6.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,852 shares of the company’s stock valued at $257,000 after acquiring an additional 457 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its stake in New York Times by 0.3% during the 1st quarter. MetLife Investment Advisors LLC now owns 144,582 shares of the company’s stock valued at $4,750,000 after acquiring an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

New York Times stock opened at $31.86 on Friday. New York Times has a 52-week low of $21.34 and a 52-week high of $34.87. The firm has a market capitalization of $5.28 billion, a PE ratio of 37.88 and a beta of 1.22.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. New York Times had a net margin of 7.55% and a return on equity of 13.76%. The company had revenue of $439.10 million during the quarter, compared to analyst estimates of $433.92 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts forecast that New York Times will post 0.86 EPS for the current fiscal year.

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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