New York Times (NYSE:NYT) Releases Earnings Results, Beats Estimates By $0.06 EPS

New York Times (NYSE:NYT) posted its earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06, Zacks reports. New York Times had a net margin of 11.04% and a return on equity of 17.75%.

New York Times Stock Down 12.6 %

Shares of NYSE:NYT traded down $7.06 during trading on Wednesday, reaching $48.83. 2,972,088 shares of the company traded hands, compared to its average volume of 1,590,475. The firm has a market capitalization of $8.01 billion, a PE ratio of 28.89, a PEG ratio of 1.51 and a beta of 1.01. The company’s 50 day moving average is $53.52 and its two-hundred day moving average is $54.12. New York Times has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid a $0.18 dividend. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. New York Times’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

A number of research firms have commented on NYT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

About New York Times

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.