$388.02 Million in Sales Expected for New York Times Company (The) (NYT) This Quarter

Brokerages predict that New York Times Company (The) (NYSE:NYT) will announce sales of $388.02 million for the current quarter, Zacks reports. Two analysts have provided estimates for New York Times Company (The)’s earnings, with the lowest sales estimate coming in at $388.00 million and the highest estimate coming in at $388.03 million. New York Times Company (The) reported sales of $363.55 million during the same quarter last year, which indicates a positive year over year growth rate of 6.7%. The firm is expected to issue its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that New York Times Company (The) will report full year sales of $388.02 million for the current financial year. For the next year, analysts forecast that the firm will post sales of $1.71 billion per share, with estimates ranging from $1.69 billion to $1.72 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for New York Times Company (The).

New York Times Company (The) (NYSE:NYT) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.05. New York Times Company (The) had a return on equity of 12.96% and a net margin of 4.12%. The firm had revenue of $407.10 million for the quarter, compared to analyst estimates of $393.07 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis.

NYT has been the subject of several research analyst reports. Zacks Investment Research raised shares of New York Times Company (The) from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Friday, May 5th. Barclays PLC upped their price target on shares of New York Times Company (The) from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC upped their price target on shares of New York Times Company (The) from $12.00 to $15.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.20.

Shares of New York Times Company (NYSE:NYT) traded up 0.26% during mid-day trading on Monday, hitting $19.15. The stock had a trading volume of 1,083,629 shares. The firm has a 50 day moving average price of $17.91 and a 200-day moving average price of $15.91. New York Times Company has a 12 month low of $10.60 and a 12 month high of $20.15. The stock has a market cap of $3.09 billion, a P/E ratio of 24.24 and a beta of 1.81.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Investors of record on Wednesday, July 12th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, July 10th. New York Times Company (The)’s dividend payout ratio (DPR) is 40.00%.

In other news, SVP R Anthony Benten sold 13,200 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $17.59, for a total value of $232,188.00. Following the completion of the sale, the senior vice president now owns 49,376 shares of the company’s stock, valued at $868,523.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carso S.A. De C.V. Inversora sold 521,500 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $19.27, for a total transaction of $10,049,305.00. Following the completion of the sale, the insider now directly owns 19,353,000 shares of the company’s stock, valued at approximately $372,932,310. The disclosure for this sale can be found here. Corporate insiders own 5.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in New York Times Company (The) during the fourth quarter valued at about $224,000. Guggenheim Capital LLC raised its stake in New York Times Company (The) by 1.8% in the fourth quarter. Guggenheim Capital LLC now owns 24,752 shares of the company’s stock valued at $329,000 after buying an additional 430 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in New York Times Company (The) by 8.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,770 shares of the company’s stock valued at $276,000 after buying an additional 1,680 shares during the last quarter. Norges Bank acquired a new stake in New York Times Company (The) during the fourth quarter valued at about $19,709,000. Finally, Teachers Advisors LLC raised its stake in New York Times Company (The) by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 289,614 shares of the company’s stock valued at $3,852,000 after buying an additional 7,658 shares during the last quarter. 64.07% of the stock is owned by institutional investors.

About New York Times Company (The)

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

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