Ready to Jump After Recent Trade: The New York Times Company (NYT)

The New York Times Company (NYSE: NYT) stock fell -0.09% on Thursday to $43.31 against a previous-day closing price of $43.35. With 1.1 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.07 million shares. During the session, the Publishing company that operates in wider Communication Services sector, reached to the highest price of $43.57 whereas the lowest price it dropped to was $42.73. The 52-week range on NYT shows that it touched its highest point at $45.30 and its lowest point at $27.58 during that stretch. It currently has a 1-year price target of $43.58. With its current market cap of 7.18 billion, NYT has annualized dividend of $0.44 while the current yield stands at 1.02%. Beta for the stock currently stands at 1.02.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NYT was down-trending over the past week, with a drop of -2.91%, but this was up by 0.81% over a month. Three-month performance surged to 17.21% while six-month performance rose 18.59%. The stock gained 39.71% in the past year, while it has gained 33.43% so far this year. A look at the trailing 12-month EPS for NYT yields 1.06 with Next year EPS estimates of 1.57. For the next quarter, that number is 0.29. This implies an EPS growth rate of -20.30% for this year and 7.31% for next year. EPS is expected to grow by 12.75% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.40%.

Float and Shares Shorts:

At present, 164.71 million NYT shares are outstanding with a float of 160.67 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.9 million, which was 3.59% higher than short shares on Jul 30, 2023. In addition to Mr. Arthur Gregg Sulzberger as the firm’s Chairman & Publisher, Ms. Meredith A. Kopit Levien serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 92.78% of NYT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.50% of NYT, in contrast to 35.58% held by mutual funds. Shares owned by individuals account for 28.55%. As the largest shareholder in NYT with 9.53% of the stake, The Vanguard Group, Inc. holds 15,615,158 shares worth 15,615,158. A second-largest stockholder of NYT, BlackRock Fund Advisors, holds 12,731,911 shares, controlling over 7.77% of the firm’s shares. Stockbridge Partners LLC is the third largest shareholder in NYT, holding 8,349,581 shares or 5.09% stake. With a 3.21% stake in NYT, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 5,261,240 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.98% of NYT stock, is the second-largest Mutual Fund holder. It holds 4,882,420 shares valued at 199.01 million. Vanguard Small Cap Index Fund holds 2.46% of the stake in NYT, owning 4,038,439 shares worth 164.61 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, NYT reported revenue of $555.68M and operating income of $51.66M. The EBITDA in the recently reported quarter was $72.28M and diluted EPS was $0.37.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NYT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NYT analysts setting a high price target of $50.00 and a low target of $37.00, the average target price over the next 12 months is $43.93. Based on these targets, NYT could surge 15.45% to reach the target high and fall by -14.57% to reach the target low. Reaching the average price target will result in a growth of 1.43% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded NYT stock several times over the past three months with 8 Buys and 2 Sells. In these transactions, 512 shares were bought while 66,577 shares were sold. The number of buy transactions has increased to 50 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 167,258 while 151,919 shares were sold.

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