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

The New York Times Company (NYSE:NYT) declared a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders 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 yield of 0.98%.

New York Times has raised its dividend payment by an average of 22.2% per year over the last three years. New York Times has a payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Up 0.3 %

NYT opened at $53.27 on Friday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.75 and a beta of 1.00. The firm’s fifty day simple moving average is $54.74 and its 200 day simple moving average is $53.73. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating 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 firm had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the previous year, the business posted $0.37 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that New York Times will post 1.84 EPS for the current fiscal year.

Analyst Ratings Changes

NYT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.