Time Warner Inc. (TWX) Rating Increased to Buy at Zacks Investment Research
Time Warner Inc. (NYSE:TWX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, July 13th. The brokerage presently has a $113.00 price target on the media conglomerate’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.60% from the company’s current price.
According to Zacks, “Time Warner has outperformed the industry in the past one year. The company’s initiatives such as foraying into new markets and digital endeavors bode well, as evident from its positive earnings surprise streak for more than 20 straight quarters, including an earnings beat of 15.3% in the first quarter of 2017. Investments in video content and technology continued to show results. Further, Time Warner’s significant international presence has helped broaden client base and product portfolio. Additionally, we believe that investments in programming, production and marketing, along with focus on operating and capital efficiencies augur well. However, decline in overall advertising spending and currency headwinds may adversely impact performance. On the other hand, AT&T has agreed to acquire Time Warner in an $85.4 billion deal, which is expected to be concluded by the end of the year.”
A number of other analysts have also recently issued reports on the stock. FBR & Co reiterated a “buy” rating and issued a $107.50 target price on shares of Time Warner in a research note on Friday, April 7th. MKM Partners reissued a “neutral” rating and issued a $107.50 price target (up previously from $90.00) on shares of Time Warner in a research report on Monday, May 1st. Rosenblatt Securities started coverage on shares of Time Warner in a research report on Tuesday, April 4th. They issued a “neutral” rating and a $105.00 price target on the stock. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Monday, April 17th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and an average target price of $102.25.
Shares of Time Warner (TWX) opened at 102.17 on Thursday. Time Warner has a 1-year low of $74.27 and a 1-year high of $103.34. The stock’s 50 day moving average is $100.48 and its 200 day moving average is $98.63. The stock has a market capitalization of $79.39 billion, a price-to-earnings ratio of 18.94 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.29 earnings per share. On average, equities analysts forecast that Time Warner will post $6.09 EPS for the current year.
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In other news, CFO Howard M. Averill purchased 255 shares of Time Warner stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $99.67 per share, with a total value of $25,415.85. Following the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TWX. Commerce Bank increased its position in Time Warner by 3.3% in the second quarter. Commerce Bank now owns 10,804 shares of the media conglomerate’s stock worth $1,085,000 after buying an additional 342 shares during the period. Principal Financial Group Inc. increased its stake in Time Warner by 26.1% in the second quarter. Principal Financial Group Inc. now owns 1,575,684 shares of the media conglomerate’s stock valued at $158,215,000 after buying an additional 326,290 shares during the last quarter. Motco bought a new stake in Time Warner during the second quarter valued at approximately $129,000. Homrich & Berg increased its stake in Time Warner by 6.8% in the second quarter. Homrich & Berg now owns 39,602 shares of the media conglomerate’s stock valued at $3,976,000 after buying an additional 2,515 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Time Warner by 4.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock valued at $116,000 after buying an additional 44 shares during the last quarter. 80.02% of the stock is owned by hedge funds and other institutional investors.
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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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