New York Times Co (NYT) Expected to Post Earnings of $0.31 Per Share

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Analysts predict that New York Times Co (NYSE:NYT) will announce earnings per share (EPS) of $0.31 for the current quarter, according to Zacks. Two analysts have made estimates for New York Times’ earnings. The lowest EPS estimate is $0.28 and the highest is $0.33. New York Times posted earnings per share of $0.39 during the same quarter last year, which indicates a negative year-over-year growth rate of 20.5%. The company is scheduled to report its next quarterly earnings results on Thursday, February 14th.

According to Zacks, analysts expect that New York Times will report full-year earnings of $0.83 per share for the current fiscal year, with EPS estimates ranging from $0.81 to $0.84. For the next fiscal year, analysts expect that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.99 to $1.00. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover New York Times.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $417.30 million during the quarter, compared to analyst estimates of $409.80 million. New York Times had a return on equity of 15.38% and a net margin of 0.79%. New York Times’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share.

Several equities analysts have recently commented on NYT shares. ValuEngine raised New York Times from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. upped their target price on New York Times to $32.00 and gave the company an “overweight” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered New York Times from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.00.

New York Times stock traded up $0.16 during midday trading on Monday, hitting $27.99. The stock had a trading volume of 2,136,188 shares, compared to its average volume of 2,215,381. The firm has a market cap of $4.59 billion, a P/E ratio of 34.99, a P/E/G ratio of 1.59 and a beta of 1.12. New York Times has a 12 month low of $16.95 and a 12 month high of $28.72. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.26.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 3rd were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, October 2nd. This represents a $0.16 annualized dividend and a dividend yield of 0.57%. New York Times’s dividend payout ratio is presently 20.00%.

In other news, COO Levien Meredith A. Kopit sold 8,354 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $22.76, for a total transaction of $190,137.04. Following the completion of the transaction, the chief operating officer now directly owns 45,389 shares in the company, valued at $1,033,053.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arthur Sulzberger, Jr. sold 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $23.73, for a total value of $806,820.00. Following the transaction, the director now owns 279,307 shares of the company’s stock, valued at $6,627,955.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 192,154 shares of company stock valued at $4,438,129. Insiders own 5.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in New York Times by 10.6% in the second quarter. BlackRock Inc. now owns 15,043,001 shares of the company’s stock worth $389,615,000 after purchasing an additional 1,438,997 shares during the period. FMR LLC lifted its position in New York Times by 1,576.2% in the second quarter. FMR LLC now owns 4,715,899 shares of the company’s stock worth $122,142,000 after purchasing an additional 4,434,550 shares during the period. Artisan Partners Limited Partnership lifted its position in New York Times by 187.8% in the second quarter. Artisan Partners Limited Partnership now owns 4,638,999 shares of the company’s stock worth $120,150,000 after purchasing an additional 3,027,171 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its position in New York Times by 9.2% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 4,612,326 shares of the company’s stock worth $106,775,000 after purchasing an additional 387,254 shares during the period. Finally, Northern Trust Corp lifted its position in New York Times by 3.7% in the second quarter. Northern Trust Corp now owns 2,438,295 shares of the company’s stock worth $63,152,000 after purchasing an additional 87,190 shares during the period. Institutional investors and hedge funds own 90.51% of the company’s stock.

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 provides 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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