Investment Bank VSS News Archives
Media Industry Links Career Opportunities
   VSS Media 100
We Expect Sluggish Revenue Growth Trends To Persist At New York Times - JP Morgan Comments

(RealTimeTraders.com) - Wednesday morning, JP Morgan downgraded The New York Times Co. (NYT) shares. The brokerage also cut its 2004 and 2005 sales and EPS estimates for the company.

Noting that NYT's revenue growth in January got off to a much slower start than expected, analyst Fred Searby expects sluggish trends to persist.

Accordingly, the brokerage cut its 2004 pro forma EPS estimate for NYT to $2.01 on sales of $3.345 Billion from $2.13 on $3.40 Billion. Its GAAP EPS estimate is $2.03. The brokerage also trimmed its 2005 estimate for the company to $2.22 on $3.49 Billion from $2.35 on $3.55 Billion.

Concluding, the brokerage lowered its rating on the NYT shares to Neutral from Overweight. On Monday, the stock closed at $46.70.

Copyright(c) 2004 RealTimeTraders.com, Inc. All Rights Reserved

Go Back

Financial Window Network Data Transmission Network
Merchant Bank | Industry Links | Research Publications
Private Equity Fund | Industry Segments | Career Opportunities | Home

, New York, New York 10022 (

Please report problems to . Please read our Privacy Policy Statement