Morgan Stanley Has Lowered Expectations for New York Times (NYSE:NYT) Stock Price

New York Times (NYSE:NYT) had its price target lowered by Morgan Stanley from $56.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also recently issued reports on NYT. JPMorgan Chase & Co. raised their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, New York Times has a consensus rating of “Moderate Buy” and an average target price of $54.71.

New York Times Stock Up 0.1 %

NYSE:NYT opened at $49.29 on Thursday. New York Times has a 52 week low of $41.55 and a 52 week high of $58.16. The firm has a 50 day moving average of $53.41 and a 200 day moving average of $54.09. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. As a group, analysts expect that New York Times will post 1.84 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of New York Times

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in New York Times during the fourth quarter valued at $1,544,000. Arizona State Retirement System grew its position in New York Times by 0.7% during the fourth quarter. Arizona State Retirement System now owns 45,064 shares of the company’s stock valued at $2,346,000 after buying an additional 330 shares during the period. Proficio Capital Partners LLC acquired a new stake in New York Times during the fourth quarter valued at $1,200,000. M&T Bank Corp grew its position in New York Times by 9.6% during the fourth quarter. M&T Bank Corp now owns 11,662 shares of the company’s stock valued at $607,000 after buying an additional 1,024 shares during the period. Finally, Assetmark Inc. grew its position in New York Times by 5.9% during the fourth quarter. Assetmark Inc. now owns 47,995 shares of the company’s stock valued at $2,498,000 after buying an additional 2,679 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.