The New York Times Company Declares Quarterly Dividend of $0.13 (NYSE:NYT)

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Friday, September 27th, Wall Street Journal reports. Stockholders of record on Wednesday, October 9th will be given a dividend of 0.13 per share on Thursday, October 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, October 9th.

New York Times has raised its dividend by an average of 22.2% per year over the last three years. New York Times has a dividend payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.07 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 25.1%.

New York Times Price Performance

Shares of New York Times stock opened at $55.16 on Monday. The business has a 50-day simple moving average of $54.23 and a 200 day simple moving average of $50.28. The firm has a market capitalization of $9.06 billion, a price-to-earnings ratio of 36.77 and a beta of 1.03. New York Times has a one year low of $39.73 and a one year high of $56.49.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that New York Times will post 1.9 EPS for the current year.

Insiders Place Their Bets

In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

NYT has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays upped their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.67.

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.