New York Times (NYSE:NYT) Issues Earnings Results, Beats Expectations By $0.06 EPS

New York Times (NYSE:NYT) announced its earnings results on Wednesday. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06, Zacks reports. New York Times had a return on equity of 17.75% and a net margin of 11.04%.

New York Times Trading Down 12.6 %

NYSE NYT traded down $7.06 during trading on Wednesday, hitting $48.83. 2,972,088 shares of the company traded hands, compared to its average volume of 1,590,475. The business has a fifty day simple moving average of $53.52 and a 200 day simple moving average of $54.12. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16. The company has a market capitalization of $8.01 billion, a P/E ratio of 28.89, a PEG ratio of 1.51 and a beta of 1.01.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid a $0.18 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. New York Times’s payout ratio is presently 30.77%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NYT. Deutsche Bank Aktiengesellschaft lifted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target 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. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.