ValuEngine lowered shares of Time Inc. (NYSE:TIME) from a buy rating to a hold rating in a research note published on Friday, September 1st.
Several other equities analysts have also recently issued reports on the company. BidaskClub cut Time from a sell rating to a strong sell rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded Time from a sell rating to a hold rating in a research report on Thursday, August 10th. Finally, Macquarie cut Time from an outperform rating to a neutral rating and set a $15.00 target price on the stock. in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $15.40.
Shares of Time (TIME) opened at 13.05 on Friday. The company’s market capitalization is $1.30 billion. Time has a 12-month low of $11.65 and a 12-month high of $20.40. The company has a 50-day moving average price of $13.19 and a 200 day moving average price of $15.09.
Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The company had revenue of $694.00 million during the quarter, compared to analyst estimates of $698.66 million. During the same quarter last year, the firm earned $0.22 EPS. The business’s revenue was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Time will post $1.10 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Tuesday, August 29th. Time’s dividend payout ratio is currently -12.31%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. grew its holdings in shares of Time by 1.6% in the 1st quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock worth $108,000 after acquiring an additional 118 shares during the period. Capstone Asset Management Co. lifted its stake in Time by 1.7% in the 1st quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock valued at $368,000 after buying an additional 320 shares in the last quarter. Advantus Capital Management Inc lifted its stake in Time by 3.2% in the 1st quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after buying an additional 389 shares in the last quarter. State Treasurer State of Michigan lifted its stake in Time by 1.0% in the 1st quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock valued at $781,000 after buying an additional 400 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in Time by 2.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 17,570 shares of the company’s stock valued at $289,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.
Time Company Profile
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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