ValuEngine Upgrades Time Inc. (NYSE:TIME) to Buy
Time Inc. (NYSE:TIME) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
Several other equities analysts have also recently weighed in on TIME. BidaskClub upgraded Time from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Time from a “sell” rating to a “hold” rating in a research report on Friday, May 12th. Wells Fargo & Company lowered Time from an “outperform” rating to a “market perform” rating in a research report on Friday, April 28th. Finally, Macquarie lowered Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Time currently has a consensus rating of “Hold” and a consensus price target of $15.40.
Time (TIME) opened at 13.60 on Tuesday. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The firm’s market capitalization is $1.35 billion. The stock’s 50 day moving average is $14.01 and its 200-day moving average is $16.22.
Time (NYSE:TIME) last issued its earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.03. Time had a positive return on equity of 7.30% and a negative net margin of 2.18%. The company had revenue of $694 million for the quarter, compared to the consensus estimate of $698.66 million. During the same quarter last year, the business posted $0.22 EPS. Time’s quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts expect that Time will post $1.18 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/10/valuengine-upgrades-time-inc-nysetime-to-buy.html.
In related news, Director Ronald S. Rolfe purchased 2,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $12.85 per share, with a total value of $25,700.00. Following the completion of the purchase, the director now owns 32,147 shares in the company, valued at approximately $413,088.95. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis J. Fitzsimons bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $11.99 per share, with a total value of $35,970.00. Following the purchase, the director now directly owns 30,674 shares of the company’s stock, valued at $367,781.26. The disclosure for this purchase can be found here. 1.92% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. First Manhattan Co. boosted its stake in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock valued at $108,000 after buying an additional 118 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Time by 1.7% in the first quarter. Capstone Asset Management Co. now owns 19,030 shares of the company’s stock valued at $368,000 after buying an additional 320 shares in the last quarter. Advantus Capital Management Inc boosted its stake in Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock valued at $246,000 after buying an additional 389 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Time by 1.0% in the first quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock valued at $781,000 after buying an additional 400 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in Time by 2.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 17,570 shares of the company’s stock valued at $289,000 after buying an additional 475 shares in the last quarter. 91.70% of the stock is owned by institutional investors and hedge funds.
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.