NEW YORK (TheStreet) -- New York Times (NYT) has named Dean Baquet as its new executive editor, effective immediately, replacing Jill Abramson. Baquet has held the position of managing editor since September 2011.
Abramson's departure was unexpected after three years at the helm of the newspaper. She was the first female to hold the position. Reporting on the news, The New York Times said "reasons for the switch were not immediately clear."
"Our masthead became half female for the first time and so many great women hold important newsroom positions. Dean has been my partner in all this and he will be a great executive editor," commented Abramson in a statement.
- The gross profit margin for NEW YORK TIMES CO is rather high; currently it is at 59.28%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, NYT's net profit margin of 0.44% significantly trails the industry average.
- Compared to its closing price of one year ago, NYT's share price has jumped by 61.48%, exceeding the performance of the broader market during that same time frame. Looking ahead, the stock's sharp rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that other strengths this company displays justify these higher price levels.
- NEW YORK TIMES CO reported flat earnings per share in the most recent quarter. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, NEW YORK TIMES CO reported lower earnings of $0.36 versus $1.05 in the prior year. This year, the market expects an improvement in earnings ($0.43 versus $0.36).
- The revenue fell significantly faster than the industry average of 14.7%. Since the same quarter one year prior, revenues fell by 16.2%. Weakness in the company's revenue seems to not be hurting the bottom line, shown by stable earnings per share.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Media industry. The net income has significantly decreased by 51.2% when compared to the same quarter one year ago, falling from $3.57 million to $1.74 million.
- You can view the full analysis from the report here: NYT Ratings Report
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