Time Inc. (TIME) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a report published on Thursday morning.
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 equities analysts also recently issued reports on the stock. BidaskClub raised shares of Time from a sell rating to a hold rating in a report on Wednesday, June 28th. Wells Fargo & Company downgraded shares of Time from an outperform rating to a market perform rating in a report on Friday, April 28th. Macquarie downgraded shares of Time from an outperform rating to a neutral rating and set a $15.00 price objective on the stock. in a report on Thursday, June 15th. Finally, ValuEngine downgraded shares of Time from a buy rating to a hold rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $15.33.
Time (NYSE TIME) traded down 1.77% during mid-day trading on Thursday, hitting $13.85. 818,271 shares of the stock traded hands. The company’s 50 day moving average price is $13.79 and its 200-day moving average price is $16.65. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The stock’s market cap is $1.38 billion.
Time (NYSE:TIME) last posted its quarterly earnings data on Wednesday, May 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $636 million during the quarter, compared to analysts’ expectations of $641.85 million. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) EPS. Analysts predict that Time will post $1.18 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/07/21/time-inc-time-downgraded-to-sell-at-zacks-investment-research.html.
In other news, Director Ronald S. Rolfe bought 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $12.85 per share, for a total transaction of $25,700.00. Following the purchase, the director now owns 32,147 shares in the company, valued at $413,088.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis J. Fitzsimons bought 3,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $11.99 per share, for a total transaction of $35,970.00. Following the purchase, the director now owns 30,674 shares in the company, valued at approximately $367,781.26. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 6,000 shares of company stock worth $74,600. 1.92% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. boosted its stake in Time by 101.6% in the second quarter. Sit Investment Associates Inc. now owns 36,900 shares of the company’s stock worth $530,000 after buying an additional 18,600 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Time by 62.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company’s stock worth $581,000 after buying an additional 15,500 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Time by 3.3% in the second quarter. Meeder Asset Management Inc. now owns 44,941 shares of the company’s stock worth $645,000 after buying an additional 1,430 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Time during the second quarter worth approximately $281,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Time during the second quarter worth approximately $436,000. Institutional investors own 90.67% of the company’s stock.
Time Company Profile
Time Inc is a media and content company. The Company offers a portfolio of news and lifestyle brands across a range of interest areas. As of December 31, 2016, the Company’s brands included People, Time, Fortune, Sports Illustrated, InStyle, Real Simple, Southern Living, Entertainment Weekly, Food & Wine, Travel + Leisure and Essence, as well as approximately 50 titles in the United Kingdom.
Receive News & Stock Ratings for Time Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Inc. and related stocks with our FREE daily email newsletter.