Time Inc. (TIME) Downgraded by Zacks Investment Research to Sell
According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
A number of other research analysts have also recently commented on TIME. Citigroup Inc. decreased their price objective on Time from $20.00 to $19.00 and set a buy rating on the stock in a report on Tuesday, August 9th. Morgan Stanley set a $15.00 price objective on Time and gave the company a hold rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $17.17.
Shares of Time (NYSE:TIME) traded down 2.28% on Thursday, hitting $13.73. The stock had a trading volume of 229,278 shares. The stock has a 50 day moving average of $14.47 and a 200 day moving average of $15.27. The firm’s market cap is $1.37 billion. Time has a 12-month low of $12.23 and a 12-month high of $20.01.
Time (NYSE:TIME) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Time had a positive return on equity of 6.36% and a negative net margin of 28.56%. The firm had revenue of $769 million for the quarter, compared to analysts’ expectations of $782.49 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that Time will post $1.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Monday, August 29th. Time’s dividend payout ratio (DPR) is presently -9.42%.
A number of institutional investors have recently bought and sold shares of TIME. Meeder Asset Management Inc. purchased a new position in shares of Time during the first quarter valued at about $557,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Time during the first quarter valued at about $494,000. Spark Investment Management LLC raised its position in shares of Time by 42.7% in the first quarter. Spark Investment Management LLC now owns 237,200 shares of the company’s stock valued at $3,662,000 after buying an additional 71,000 shares during the last quarter. A.R. Schmeidler & Co. Inc. raised its position in shares of Time by 81.4% in the first quarter. A.R. Schmeidler & Co. Inc. now owns 23,298 shares of the company’s stock valued at $360,000 after buying an additional 10,456 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Time by 28.5% in the first quarter. BlackRock Group LTD now owns 81,750 shares of the company’s stock valued at $1,262,000 after buying an additional 18,121 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.
Time Company Profile
Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.
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