New York Times Co (NYT) Expected to Announce Quarterly Sales of $410.30 Million

Equities analysts expect New York Times Co (NYSE:NYT) to announce $410.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for New York Times’ earnings, with the highest sales estimate coming in at $411.89 million and the lowest estimate coming in at $408.70 million. New York Times posted sales of $385.64 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that New York Times will report full-year sales of $1.72 billion for the current fiscal year. For the next year, analysts anticipate that the firm will report sales of $1.81 billion, with estimates ranging from $1.80 billion to $1.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover New York Times.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $411.25 million. New York Times had a return on equity of 15.00% and a net margin of 1.24%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS.

A number of analysts have recently weighed in on NYT shares. Zacks Investment Research cut New York Times from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. increased their price target on New York Times to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, October 11th. Finally, ValuEngine upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.00.

Shares of New York Times stock traded up $0.23 on Friday, reaching $26.53. 2,116,900 shares of the company were exchanged, compared to its average volume of 2,196,927. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 1.46 and a beta of 1.54. New York Times has a 1-year low of $16.95 and a 1-year high of $26.85.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 3rd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.60%. The ex-dividend date was Tuesday, October 2nd. New York Times’s dividend payout ratio is currently 20.00%.

In related news, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $22.86, for a total value of $2,057,400.00. Following the sale, the insider now directly owns 8,247,175 shares in the company, valued at approximately $188,530,420.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Levien Meredith A. Kopit sold 8,354 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $22.76, for a total value of $190,137.04. Following the completion of the sale, the chief operating officer now owns 45,389 shares in the company, valued at $1,033,053.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,154 shares of company stock worth $8,110,129. 5.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of NYT. CSat Investment Advisory L.P. acquired a new stake in New York Times in the 2nd quarter valued at approximately $120,000. Adviser Investments LLC bought a new position in New York Times during the 2nd quarter valued at $190,000. D.A. Davidson & CO. bought a new position in New York Times during the 2nd quarter valued at $201,000. Cubist Systematic Strategies LLC bought a new position in New York Times during the 1st quarter valued at $202,000. Finally, Natixis bought a new position in New York Times during the 1st quarter valued at $235,000. Hedge funds and other institutional investors own 91.13% 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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