Time Warner Inc. (TWX) Upgraded to Buy at Moffett Nathanson
TWX has been the subject of several other reports. Bank of America Corp. set a $94.00 target price on Time Warner and gave the stock a hold rating in a research report on Friday, October 21st. Credit Suisse Group AG cut Time Warner from an outperform rating to a neutral rating and raised their target price for the stock from $90.00 to $107.50 in a research report on Monday, October 24th. Goldman Sachs Group Inc. cut Time Warner from a conviction-buy rating to a neutral rating and raised their target price for the stock from $93.00 to $103.00 in a research report on Monday, October 24th. Brean Capital raised their target price on Time Warner from $93.00 to $102.00 and gave the stock a buy rating in a research report on Monday, October 24th. Finally, Macquarie cut Time Warner from an outperform rating to a neutral rating in a research report on Monday, October 24th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $95.04.
Time Warner (NYSE:TWX) traded up 0.69% during trading on Thursday, hitting $91.32. 1,180,651 shares of the stock traded hands. The stock has a market cap of $70.42 billion, a PE ratio of 16.24 and a beta of 1.08. The company has a 50-day moving average price of $84.13 and a 200 day moving average price of $78.25. Time Warner has a one year low of $55.53 and a one year high of $94.44.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Wednesday, November 2nd. The media conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.46. Time Warner had a return on equity of 18.95% and a net margin of 15.75%. The company earned $7.20 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business earned $1.25 earnings per share. Time Warner’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts expect that Time Warner will post $5.78 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Monday, November 28th. Time Warner’s dividend payout ratio is currently 28.60%.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction on Wednesday, September 7th. The stock was 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 directly owns 157,877 shares in the company, valued at $12,352,296.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Karen Magee sold 14,240 shares of Time Warner stock in a transaction on 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 completion of the transaction, the insider now owns 7,461 shares of the company’s stock, valued at $596,656.17. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Time Warner by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 12,324,835 shares of the media conglomerate’s stock valued at $906,367,000 after buying an additional 193,231 shares during the period. Private Wealth Partners LLC raised its stake in Time Warner by 3.3% in the second quarter. Private Wealth Partners LLC now owns 179,300 shares of the media conglomerate’s stock valued at $13,186,000 after buying an additional 5,760 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Time Warner during the second quarter valued at about $174,269,000. Goldentree Asset Management LP raised its stake in Time Warner by 74.3% in the first quarter. Goldentree Asset Management LP now owns 501,807 shares of the media conglomerate’s stock valued at $36,406,000 after buying an additional 213,850 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in Time Warner by 11.6% in the second quarter. Shell Asset Management Co. now owns 149,788 shares of the media conglomerate’s stock valued at $11,015,000 after buying an additional 15,539 shares in the last quarter. Institutional investors own 80.95% 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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