The New York Times Company (NYT) To Go Ex-Dividend on April 1st

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Tuesday, April 1st will be paid a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13.

New York Times has increased its dividend payment by an average of 22.9% per year over the last three years. New York Times has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.05 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 25.4%.

New York Times Price Performance

Shares of New York Times stock opened at $49.29 on Friday. New York Times has a one year low of $41.55 and a one year high of $58.16. The stock’s 50-day moving average is $53.41 and its 200 day moving average is $54.09. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. On average, sell-side analysts expect that New York Times will post 1.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NYT shares. Morgan Stanley lowered their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average price target of $54.71.

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.