New York Times Q2 finished below guidance, says Jefferies Jefferies earlier today said that based on its daily tracking of ad pages, New York Times finished below guidance in Q2 and its Q3 is off to a slow start. Citing weakness in several key categories, Jefferies lowered its Q2 and Q3 advertising estimates for New York Times to down 6.8% and down 5.1% from down 4.1% and down 3.1%. The firm kept a Hold rating on the stock with a $15 price target. Shares of New York Times are trading down 5%, or 67c, to $14.13 in morning trading.
New York Times sees Q1 circulation revenues to increase from 4Q15 Total advertising revenues in the first quarter of 2016 are expected to decrease between 2%-4% compared with the first quarter of 2015. Operating costs and adjusted operating costs are each expected to increase in low-single digits the first quarter of 2016 compared with the first quarter of 2015.