The New York Times Company (NYT) To Go Ex-Dividend on October 9th

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Friday, September 27th, Wall Street Journal reports. Shareholders of record on Wednesday, October 9th will be given a dividend of 0.13 per share on Thursday, October 24th. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date is Wednesday, October 9th.

New York Times has increased its dividend by an average of 22.2% annually over the last three years. New York Times has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 25.1%.

New York Times Stock Performance

NYT opened at $55.16 on Monday. The stock has a 50-day moving average of $54.23 and a 200-day moving average of $50.28. New York Times has a 52-week low of $39.73 and a 52-week high of $56.49. The company has a market cap of $9.06 billion, a PE ratio of 36.77 and a beta of 1.03.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same period in the previous year, the company earned $0.38 earnings per share. New York Times’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts predict that New York Times will post 1.9 earnings per share for the current year.

Analyst Ratings Changes

NYT has been the topic of a number of recent analyst reports. Barclays lifted their price objective on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.

Insiders Place Their Bets

In other news, CFO William Bardeen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares in the company, valued at $5,487,546.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company's mobile application, website, printed newspaper, and associated content, such as podcast.