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

The New York Times Company (NYSE:NYT) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Stockholders of record on Thursday, January 9th will be given a dividend of 0.13 per share on Thursday, January 23rd. This represents a $0.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, January 10th.

New York Times has increased its dividend by an average of 22.8% annually over the last three years. New York Times has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect New York Times to earn $2.03 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 25.6%.

New York Times Trading Down 1.0 %

Shares of NYT stock opened at $52.16 on Wednesday. New York Times has a 12-month low of $41.55 and a 12-month high of $58.16. The business’s 50 day moving average is $54.08 and its two-hundred day moving average is $53.99. The company has a market capitalization of $8.55 billion, a P/E ratio of 30.86, a P/E/G ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period in the prior year, the company posted $0.37 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that New York Times will post 1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NYT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price 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. boosted their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times 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.