Time Inc. (TIME) Upgraded to Sell at BidaskClub

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

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Time from a sell rating to a hold rating in a report on Thursday, August 10th. ValuEngine upgraded Time from a hold rating to a buy rating in a report on Tuesday, August 8th. Finally, Macquarie downgraded Time from an outperform rating to a neutral rating and set a $15.00 price objective for the company. in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $15.00.

Shares of Time (NYSE:TIME) traded up 1.12% during midday trading on Thursday, hitting $13.50. 1,651,082 shares of the company were exchanged. Time has a one year low of $11.65 and a one year high of $20.40. The firm’s market cap is $1.34 billion. The company’s 50 day moving average price is $13.12 and its 200 day moving average price is $14.97.

Time (NYSE:TIME) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The business had revenue of $694.00 million during the quarter, compared to analyst estimates of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. Time’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Equities analysts expect that Time will post $1.10 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.19%. Time’s dividend payout ratio (DPR) is currently -12.31%.

Several institutional investors have recently made changes to their positions in the business. Advantus Capital Management Inc increased its holdings in shares of Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after acquiring an additional 389 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Time by 2.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,570 shares of the company’s stock worth $289,000 after acquiring an additional 475 shares in the last quarter. Mason Street Advisors LLC increased its holdings in shares of Time by 1.4% in the first quarter. Mason Street Advisors LLC now owns 46,861 shares of the company’s stock worth $907,000 after acquiring an additional 627 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Time by 1.1% in the second quarter. Texas Permanent School Fund now owns 72,615 shares of the company’s stock worth $1,042,000 after acquiring an additional 796 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in shares of Time by 3.3% in the second quarter. Meeder Asset Management Inc. now owns 44,941 shares of the company’s stock worth $645,000 after acquiring an additional 1,430 shares in the last quarter. Institutional investors own 90.06% 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.

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