Time Inc. (TIME) Downgraded by BidaskClub

BidaskClub cut shares of Time Inc. (NYSE:TIME) from a sell rating to a strong sell rating in a research report released on Thursday morning.

A number of other research firms also recently commented on TIME. Zacks Investment Research raised Time from a sell rating to a hold rating in a report on Wednesday, April 26th. Wells Fargo & Company downgraded Time from an outperform rating to a market perform rating in a report on Friday, April 28th. Macquarie downgraded Time from an outperform rating to a neutral rating and set a $15.00 target price for the company. in a report on Thursday, June 15th. Finally, ValuEngine raised Time from a hold rating to a buy rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $15.40.

Shares of Time (TIME) opened at 12.60 on Thursday. Time has a one year low of $11.65 and a one year high of $20.40. The stock’s market cap is $1.25 billion. The stock has a 50 day moving average of $13.63 and a 200 day moving average of $15.67.

Time (NYSE:TIME) last released its earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The firm had revenue of $694 million for the quarter, compared to analyst estimates of $698.66 million. During the same period last year, the firm earned $0.22 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, analysts forecast that Time will post $1.10 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, August 29th. Time’s dividend payout ratio (DPR) is -12.31%.

A number of hedge funds and other institutional investors have recently made changes to their positions in TIME. Canada Pension Plan Investment Board bought a new position in shares of Time during the first quarter worth about $104,000. First Manhattan Co. increased its position in shares of Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock worth $108,000 after buying an additional 118 shares during the last quarter. Shelton Capital Management bought a new position in shares of Time during the second quarter worth about $144,000. Riverhead Capital Management LLC increased its position in shares of Time by 84.7% in the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock worth $148,000 after buying an additional 4,743 shares during the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of Time by 84.9% in the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock worth $150,000 after buying an additional 4,794 shares during the last quarter. 92.86% of the stock is owned by institutional investors.

About Time

Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.