PRESIDENT & CEO Thompson Mark sold 40,000 shares in The New York Times Company (NYSE:NYT) for $379,095 in transaction occurred on 2018/11/15. After making this transaction, the PRESIDENT & CEO owns a direct stake of 1,036,000 shares, worth $11,911,165, as per the last closing price. On 2018/11/08 Benten R Anthony, SVP, Treasurer & Controller at NYT, dumped 11,015 shares at an average price of $27.67 per share. The selling total is valued at $1,253,847.
Separately, it had been reported that some other NYT insiders also took part of the insider trading activity. Director, Sulzberger Arthur Jr had divested 66,000 shares for $280,199 through a trade on 2018/11/05. Following this activity, the insider holds 1,848,000 shares worth $8,803,853 as of recent close. Wall Street’s most bullish The New York Times Company (NYSE:NYT) analysts are predicting the share price to blow past $34 per share during the next 12 months. The current median share price forecast by them is $30.5, suggesting that the stock could increase -2.93% in that time frame. The average price target of $28.25 calls for a nearly -10.09% increase in the stock price.
The New York Times Company (NYT) trading activity significantly improved as the volume at ready counter increased to 3,703,034 shares versus 2,806,415 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,522,490 shares. The share price rose 0.54% in recent trade and currently has a stock-market value of $5.06B. The shares finished at $31.42, after trading as low as $31.26 earlier in the session. It hit an intraday high Tuesday at $32.02. The stock is now 47.24% above against its bear-market low of $21.34 on January 03, 2019. It has retreated -1.91% since it’s 52-week high of $32.02 reached in February. Now the market price is up 30.37% on the year and up 40.96% YTD.
NYT’s 50 day simple moving average (SMA 50) price is $25.18 and its 200-day simple moving average (SMA 200) price is $24.63. The company’s stock currently has a total float of 140.54M shares. Its weekly volatility is hovering around 4.59% and felt 3.01% volatility in price over a month. On the upside, the share price will test short term resistance at around $31.87. On a downside, the stock is likely to find some support, which begins at $31.11. The failure to get near-term support could push it to $30.81.
It had seen a negative analyst call from Barclays, which downgraded the stock from Equal Weight to Underweight on November 06. Analysts at Singular Research, started covering the stock on February 09 with a Sell rating. Brokerage firm Barclays, looks cautious as they stick to prior recommendation of Equal Weight, in a call on November 13. However, they did change the target price from $14 to $15.
When looking at valuations, The New York Times Company (NYT) has a cheap P/E of 41.73x as compared to industry average of 44.34x. Moreover, it trades for 30.93 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 5.15x price/book and 2.89x price/sales. Compared to others, The New York Times Company is in a different league with regards to profitability, having net margins of 1.2%. To put some perspective around this, the industry’s average net margin is 7.11%. NYT’s ROE is 2.2%, which is also considerably worse than the industry’s ROE of 7.88%. It’s also very liquid in the near term, with a current ratio of 1.9. The stock has a debt/capital of 0.24.
Shares of The New York Times Company (NYT) have gained 16.1% since the company’s last earnings report. Over the past 12 fiscal quarters, The New York Times Company (NYSE:NYT) has topped consensus earnings estimates in 11 quarters (91%), missed earnings in 1 quarters (8%), whereas at 0 occasion EPS met analyst expectations. NYT last reported earnings on February 06, 2019 when it released Dec-18 results that exceeded expectations. The company raked in $0.32 per share, -97.88% change on the same period last year. That was better than consensus for $0.28. Revenue for the recent quarter stood at $502.74 million, up 4% on last year and above the $479.62 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $429 million to $440 million, which should be compared with $429.4 million generated last year. EPS is seen in a range of $0.07 to $0.18, against the $0.18 reported a year ago.