Wedbush Downgrades Time Warner Inc. (TWX) to Neutral
Time Warner Inc. (NYSE:TWX) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Monday. They currently have a $90.00 target price on the media conglomerate’s stock. Wedbush’s price objective indicates a potential upside of 13.19% from the stock’s previous close.
Several other analysts also recently weighed in on TWX. Albert Fried & Company reiterated an “overweight” rating and issued a $90.00 price objective on shares of Time Warner in a research report on Saturday. Needham & Company LLC reiterated a “hold” rating on shares of Time Warner in a research report on Thursday, October 13th. Vetr upgraded shares of 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. Jefferies Group reiterated a “buy” rating on shares of Time Warner in a research report on Monday, September 12th. Finally, Loop Capital reiterated a “buy” rating and issued a $96.00 price objective on shares of Time Warner in a research report on Wednesday, August 17th. Eleven analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $86.11.
Shares of Time Warner (NYSE:TWX) opened at 79.51 on Monday. The stock has a market capitalization of $61.85 billion, a PE ratio of 15.82 and a beta of 1.21. The company has a 50-day moving average of $78.09 and a 200-day moving average of $76.34. Time Warner has a 12 month low of $55.53 and a 12 month high of $81.33.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.13. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the firm posted $1.25 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Time Warner will post $5.42 EPS for the current fiscal year.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the transaction, the executive vice president now directly owns 157,877 shares in the company, valued at approximately $12,352,296.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karen Magee sold 14,240 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $79.97, for a total value of $1,138,772.80. Following the transaction, the insider now owns 7,461 shares in the company, valued at $596,656.17. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. NN Investment Partners Holdings N.V. purchased a new position in shares of Time Warner during the first quarter valued at approximately $803,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Time Warner during the first quarter valued at approximately $595,000. BB&T Securities LLC raised its position in shares of Time Warner by 514.5% in the first quarter. BB&T Securities LLC now owns 478,589 shares of the media conglomerate’s stock valued at $34,721,000 after buying an additional 400,711 shares during the period. Rafferty Asset Management LLC purchased a new position in shares of Time Warner during the first quarter valued at approximately $3,537,000. Finally, Meeder Asset Management Inc. raised its position in shares of Time Warner by 50.1% in the first quarter. Meeder Asset Management Inc. now owns 25,736 shares of the media conglomerate’s stock valued at $1,867,000 after buying an additional 8,589 shares during the period. Hedge funds and other institutional investors own 80.68% of the company’s stock.
About Time Warner
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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