Time Inc. (TIME) Lowered to Strong Sell at BidaskClub

Time Inc. (NYSE:TIME) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other equities research analysts have also recently weighed in on TIME. Zacks Investment Research cut Time from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. ValuEngine raised Time from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.67.

Shares of Time (NYSE:TIME) opened at 11.80 on Friday. The company has a 50-day moving average of $12.97 and a 200 day moving average of $14.04. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The firm’s market cap is $1.18 billion.

Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). The firm had revenue of $694.00 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. On average, equities analysts expect that Time will post $1.10 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advantus Capital Management Inc grew its stake 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 during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake 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 during the last quarter. Texas Permanent School Fund grew its stake 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 during the last quarter. Meeder Asset Management Inc. grew its stake 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 during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Time by 7.1% in the second quarter. Pinnacle Associates Ltd. now owns 26,932 shares of the company’s stock worth $386,000 after acquiring an additional 1,786 shares during the last quarter. 89.68% of the stock is currently owned by hedge funds and other 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.

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