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Strength Seen in New York Times (NYT): Can Its 5.2% Jump Turn into More Strength?
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The New York Times Company (NYT - Free Report) shares ended the last trading session 5.2% higher at $55.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.9% gain over the past four weeks.
The New York Times Company is likely to benefit from growth in its subscriber base and an increase in digital advertising revenues, which are undeniably pivotal. As the company continues to attract and retain digital subscribers and advertisers increasingly allocate budgets to digital platforms, the company is well-positioned to capitalize on evolving media consumption trends.
This newspaper publisher is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $622.92 million, up 5.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For New York Times, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NYT going forward to see if this recent jump can turn into more strength down the road.
New York Times is part of the Zacks Publishing - Newspapers industry. Lee Enterprises, Incorporated (LEE - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $10.17. LEE has returned -18.7% in the past month.
For Lee Enterprises, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.68. This represents a change of +172% from what the company reported a year ago. Lee Enterprises currently has a Zacks Rank of #3 (Hold).
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Strength Seen in New York Times (NYT): Can Its 5.2% Jump Turn into More Strength?
The New York Times Company (NYT - Free Report) shares ended the last trading session 5.2% higher at $55.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.9% gain over the past four weeks.
The New York Times Company is likely to benefit from growth in its subscriber base and an increase in digital advertising revenues, which are undeniably pivotal. As the company continues to attract and retain digital subscribers and advertisers increasingly allocate budgets to digital platforms, the company is well-positioned to capitalize on evolving media consumption trends.
This newspaper publisher is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $622.92 million, up 5.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For New York Times, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NYT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
New York Times is part of the Zacks Publishing - Newspapers industry. Lee Enterprises, Incorporated (LEE - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $10.17. LEE has returned -18.7% in the past month.
For Lee Enterprises, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.68. This represents a change of +172% from what the company reported a year ago. Lee Enterprises currently has a Zacks Rank of #3 (Hold).