Time Inc. (TIME) Rating Reiterated by Wells Fargo & Co.
Time Inc. (NYSE:TIME)‘s stock had its “hold” rating restated by equities researchers at Wells Fargo & Co. in a report released on Monday.
A number of other brokerages have also commented on TIME. Citigroup Inc. reduced their price target on shares of Time from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, September 27th. Morgan Stanley set a $15.00 price target on shares of Time and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Time from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.67.
Shares of Time (NYSE:TIME) opened at 16.30 on Monday. Time has a 1-year low of $12.23 and a 1-year high of $17.66. The firm has a 50-day moving average of $13.37 and a 200 day moving average of $14.83. The stock’s market capitalization is $1.61 billion.
Time (NYSE:TIME) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. Time had a negative net margin of 2.82% and a positive return on equity of 6.31%. The firm earned $750 million during the quarter, compared to analyst estimates of $770.57 million. During the same period in the previous year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts predict that Time will post $1.20 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 4.66%. Time’s dividend payout ratio (DPR) is -84.44%.
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Several institutional investors have recently bought and sold shares of TIME. LS Investment Advisors LLC raised its position in Time by 64.7% in the second quarter. LS Investment Advisors LLC now owns 6,326 shares of the company’s stock worth $104,000 after buying an additional 2,486 shares during the last quarter. Sit Investment Associates Inc. raised its position in Time by 40.5% in the third quarter. Sit Investment Associates Inc. now owns 7,200 shares of the company’s stock worth $104,000 after buying an additional 2,075 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in Time during the second quarter worth $196,000. Nine Chapters Capital Management LLC purchased a new position in Time during the second quarter worth $201,000. Finally, Amalgamated Bank raised its position in Time by 4.5% in the second quarter. Amalgamated Bank now owns 12,774 shares of the company’s stock worth $177,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.
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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