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Stock Alert: New York Times Co. (NYT) Shares Hit 52-Week High

Shares of New York Times Co. (NYT) reached a 52-week high of $37.96 today, thanks to the company's stellar Q4 results.

The company reported Q4 net income of $68.2 million or $0.41 per share compared to $55.2 million or $0.33 per share last year.

Adjusted earnings increased to $0.43 per share from $0.32 per share reported in the same period of last year.

Total revenues for the fourth quarter of 2019 increased 1.1% to $508.4 million from $502.7 million in the fourth quarter of 2018.

Analysts polled by Thomson Reuters expected earnings of $0.29 per share and revenue of $503.72 million for the quarter. Analysts estimates typically exclude certain special items.

As of year-end, the company has 5.25 million total subscriptions across its print and digital products. Paid digital-only subscriptions at the end of the fourth quarter totaled about 4.395 million, a net increase of 342,000 subscriptions compared with the end of the third quarter of 2019, and a net increase of 1.035 million subscriptions, or 30.8%, compared with the end of the year-ago quarter.

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