Newspaper and digital media company The New York Times (NYSE:NYT)
will be announcing earnings results tomorrow morning. Here’s what to look for.
The New York Times met analysts’ revenue expectations last quarter, reporting revenues of $676.2 million, up 1.3% year on year. It was a decent quarter for the company, with a solid beat of analysts’ earnings estimates.
Is The New York Times a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting The New York Times’s revenue to grow 5.5% year on year to $591.8 million, improving from the 4.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. The New York Times has missed Wall Street’s revenue estimates four times over the last two years.
Looking at The New York Times’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. fuboTV delivered year-on-year revenue growth of 24%, beating analysts’ expectations by 5.5%, and Royal Caribbean (NYSE:) reported revenues up 29.2%, topping estimates by 1.1%. fuboTV traded down 9.4% following the results while Royal Caribbean was up 2.8%.
Read the full analysis of fuboTV’s and Royal Caribbean’s results on StockStory.
Investors in the consumer discretionary segment have had fairly steady hands going into earnings, with share prices down 1.9% on average over the last month. The New York Times is up 6.9% during the same time and is heading into earnings with an average analyst price target of $48 (compared to the current share price of $46.19).
remove ads
.
