Traders Buy New York Times (NYT) on Weakness

Traders bought shares of New York Times Company (The) (NYSE:NYT) on weakness during trading on Monday. $9.61 million flowed into the stock on the tick-up and $2.26 million flowed out of the stock on the tick-down, for a money net flow of $7.35 million into the stock. Of all equities tracked, New York Times had the 30th highest net in-flow for the day. New York Times traded down ($0.05) for the day and closed at $18.60

A number of brokerages have recently commented on NYT. Jefferies Group reissued a “hold” rating and issued a $18.00 price target on shares of New York Times in a research report on Monday, October 16th. ValuEngine cut New York Times from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research cut New York Times from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. New York Times has an average rating of “Hold” and an average price target of $15.45.

The firm has a market cap of $3,016.12, a PE ratio of 25.83 and a beta of 1.64. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.27.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $385.60 million for the quarter, compared to analysts’ expectations of $390.13 million. New York Times had a return on equity of 13.46% and a net margin of 6.02%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. equities research analysts expect that New York Times Company will post 0.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, January 10th will be given a $0.04 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $0.16 annualized dividend and a yield of 0.86%. New York Times’s dividend payout ratio (DPR) is presently 26.67%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its position in New York Times by 1.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,339 shares of the company’s stock valued at $183,000 after acquiring an additional 180 shares in the last quarter. SG Americas Securities LLC lifted its position in New York Times by 0.6% in the 2nd quarter. SG Americas Securities LLC now owns 45,819 shares of the company’s stock valued at $811,000 after acquiring an additional 272 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in New York Times by 1.3% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 21,284 shares of the company’s stock valued at $258,000 after acquiring an additional 278 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in New York Times by 6.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,635 shares of the company’s stock valued at $118,000 after acquiring an additional 429 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in New York Times by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,289 shares of the company’s stock valued at $111,000 after buying an additional 673 shares during the last quarter. 67.90% of the stock is currently owned by institutional investors and hedge funds.

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New York Times Company Profile

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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