The New York Times Company (NYSE:NYT) Plans Quarterly Dividend of $0.18

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.18 per share on Thursday, April 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13.

New York Times has raised its dividend payment by an average of 22.9% per year over the last three years. New York Times has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect New York Times to earn $2.05 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 25.4%.

New York Times Stock Performance

Shares of NYT opened at $49.29 on Friday. The business’s fifty day moving average price is $53.41 and its two-hundred day moving average price is $54.09. The firm 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 has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 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, research analysts forecast that New York Times will post 1.84 EPS for the current year.

Analysts Set New Price Targets

NYT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday. StockNews.com lowered shares of New York Times from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average target price of $54.71.

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.