Time Warner’s (TWX) Hold Rating Reaffirmed at Needham & Company LLC
TWX has been the topic of several other reports. Brean Capital restated a buy rating and issued a $90.00 price objective on shares of Time Warner in a research report on Friday, August 5th. Albert Fried & Company restated an outperform rating and issued a $90.00 price objective on shares of Time Warner in a research report on Thursday, September 29th. Jefferies Group restated a buy rating on shares of Time Warner in a research report on Monday, September 12th. Vetr upgraded Time Warner from a buy rating to a strong-buy rating and set a $83.96 price objective on the stock in a research report on Monday, September 19th. Finally, Wedbush boosted their target price on Time Warner from $82.00 to $88.00 and gave the stock an outperform rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $86.11.
Shares of Time Warner (NYSE:TWX) traded up 0.49% during midday trading on Thursday, hitting $79.79. The stock had a trading volume of 456,490 shares. The company’s 50 day moving average is $78.09 and its 200 day moving average is $76.14. Time Warner has a 52-week low of $55.53 and a 52-week high of $81.33. The company has a market cap of $62.06 billion, a PE ratio of 15.88 and a beta of 1.21.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.13. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. On average, analysts anticipate that Time Warner will post $5.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Monday, August 29th. Time Warner’s payout ratio is 32.01%.
In other Time Warner news, EVP Paul T. Cappuccio sold 56,595 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the transaction, the executive vice president now owns 157,877 shares in the company, valued at $12,352,296.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karen Magee sold 14,240 shares of the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the completion of the transaction, the insider now owns 7,461 shares of the company’s stock, valued at approximately $596,656.17. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of TWX. National Pension Service increased its position in Time Warner by 8.7% in the third quarter. National Pension Service now owns 523,178 shares of the media conglomerate’s stock valued at $41,650,000 after buying an additional 41,733 shares during the period. Private Trust Co. NA increased its position in Time Warner by 16.0% in the third quarter. Private Trust Co. NA now owns 13,363 shares of the media conglomerate’s stock valued at $1,063,000 after buying an additional 1,848 shares during the period. Hennessy Advisors Inc. acquired a new position in Time Warner during the third quarter valued at approximately $17,395,000. CenturyLink Investment Management Co acquired a new position in Time Warner during the third quarter valued at approximately $2,357,000. Finally, Capstone Asset Management Co. increased its position in Time Warner by 3.5% in the third quarter. Capstone Asset Management Co. now owns 55,890 shares of the media conglomerate’s stock valued at $4,449,000 after buying an additional 1,867 shares during the period. Institutional investors and hedge funds own 80.67% of the company’s stock.
Time Warner Company Profile
Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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