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

The New York Times Company (NYSE:NYT - Get Free Report) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 0.98%.

New York Times has raised its dividend payment by an average of 22.2% annually over the last three years. New York Times has a payout ratio of 25.1% meaning 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 Stock Up 0.3 %

NYT traded up $0.17 during midday trading on Thursday, reaching $53.27. 1,222,909 shares of the company's stock were exchanged, compared to its average volume of 1,145,869. The business has a 50-day simple moving average of $54.74 and a two-hundred day simple moving average of $53.73. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. New York Times has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly 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 business had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same quarter in the previous year, the firm earned $0.37 EPS. New York Times's quarterly revenue was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that New York Times will post 1.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on New York Times from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped 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 report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, New York Times has a consensus rating of "Moderate Buy" and a consensus price target 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.