The New York Times Company (NYT) to Issue Quarterly Dividend of $0.13 on January 23rd

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Investors of record on Thursday, January 9th will be paid a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, January 10th.

New York Times has raised its dividend by an average of 22.8% annually over the last three years. New York Times has a dividend payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect New York Times to earn $2.03 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 25.6%.

New York Times Trading Down 1.0 %

NYSE:NYT opened at $52.16 on Wednesday. New York Times has a 12-month low of $41.55 and a 12-month high of $58.16. The stock has a market capitalization of $8.55 billion, a P/E ratio of 30.86, a P/E/G ratio of 1.75 and a beta of 1.00. The stock has a 50-day moving average price of $54.08 and a 200 day moving average price of $53.99.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. On average, research analysts predict that New York Times will post 1.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NYT. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.