New York Times (NYT) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of New York Times (NYSE:NYT) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of New York Times from a buy rating to a hold rating in a research report on Monday, November 6th. Jefferies Group reiterated a hold rating and issued a $18.00 price target on shares of New York Times in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. New York Times has a consensus rating of Hold and a consensus price target of $15.45.

Shares of New York Times (NYSE NYT) traded up $0.05 during mid-day trading on Friday, reaching $18.70. 1,150,000 shares of the company traded hands, compared to its average volume of 1,043,410. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. New York Times has a 52 week low of $12.82 and a 52 week high of $20.15. The stock has a market capitalization of $3,024.23, a PE ratio of 25.90 and a beta of 1.64.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. New York Times had a net margin of 6.02% and a return on equity of 13.46%. The business had revenue of $385.60 million for the quarter, compared to the consensus estimate of $390.13 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. analysts predict that New York Times will post 0.72 EPS for the current year.

Several hedge funds have recently made changes to their positions in NYT. FMR LLC raised its position in shares of New York Times by 173.6% during the 2nd quarter. FMR LLC now owns 2,430,179 shares of the company’s stock valued at $43,014,000 after purchasing an additional 1,542,000 shares during the period. Vanguard Group Inc. raised its position in shares of New York Times by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 11,034,212 shares of the company’s stock valued at $195,306,000 after purchasing an additional 664,069 shares during the period. Teachers Advisors LLC raised its position in shares of New York Times by 145.6% during the 2nd quarter. Teachers Advisors LLC now owns 677,421 shares of the company’s stock valued at $11,990,000 after purchasing an additional 401,628 shares during the period. JPMorgan Chase & Co. raised its position in shares of New York Times by 247.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 539,700 shares of the company’s stock valued at $10,606,000 after purchasing an additional 384,565 shares during the period. Finally, Granite Investment Partners LLC raised its position in shares of New York Times by 25.5% during the 2nd quarter. Granite Investment Partners LLC now owns 1,001,235 shares of the company’s stock valued at $17,721,000 after purchasing an additional 203,314 shares during the period. Hedge funds and other institutional investors own 67.92% of the company’s stock.

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New York Times Company Profile

The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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