Time (TIME) Rating Lowered to Neutral at Citigroup

Time (NYSE:TIME) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Time from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Gabelli cut shares of Time from a “buy” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research note on Tuesday, November 28th. ValuEngine raised shares of Time from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Saturday, November 11th. Finally, Evercore ISI began coverage on shares of Time in a research note on Friday, November 17th. They set an “outperform” rating and a $7.00 price objective on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.00.

Time (TIME) opened at $18.70 on Monday. Time has a 52-week low of $9.90 and a 52-week high of $20.40. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.96 and a quick ratio of 0.93. The stock has a market cap of $1,852.97, a PE ratio of 17.55, a P/E/G ratio of 3.55 and a beta of 1.02.

Time (NYSE:TIME) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.08. Time had a negative net margin of 0.10% and a positive return on equity of 7.53%. The firm had revenue of $679.00 million during the quarter, compared to analyst estimates of $693.65 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. analysts expect that Time will post 1.05 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Shell Asset Management Co. bought a new stake in shares of Time during the third quarter valued at approximately $104,000. Shelton Capital Management bought a new stake in shares of Time during the second quarter valued at approximately $144,000. Riverhead Capital Management LLC grew its stake in shares of Time by 84.7% during the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock valued at $148,000 after purchasing an additional 4,743 shares during the last quarter. Flinton Capital Management LLC grew its stake in shares of Time by 84.9% during the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock valued at $150,000 after purchasing an additional 4,794 shares during the last quarter. Finally, Balter Liquid Alternatives LLC bought a new stake in shares of Time during the second quarter valued at approximately $156,000. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Time (NYSE:TIME)

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