Time Inc. (TIME) Downgraded by ValuEngine
Time Inc. (NYSE:TIME) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
TIME has been the subject of several other research reports. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. BidaskClub downgraded shares of Time from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Macquarie downgraded shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.40.
Shares of Time (TIME) traded down 1.90% during mid-day trading on Friday, hitting $12.90. 1,261,285 shares of the stock were exchanged. The stock’s 50 day moving average price is $13.49 and its 200-day moving average price is $15.46. Time has a 12-month low of $11.65 and a 12-month high of $20.40. The stock’s market capitalization is $1.28 billion.
Time (NYSE:TIME) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.03. Time had a negative net margin of 4.34% and a positive return on equity of 7.06%. The business had revenue of $694 million during the quarter, compared to analyst estimates of $698.66 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts expect that Time will post $1.10 EPS for the current fiscal year.
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A number of institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Time by 53.8% in the first quarter. Renaissance Technologies LLC now owns 2,487,300 shares of the company’s stock worth $48,129,000 after buying an additional 870,200 shares in the last quarter. First Trust Advisors LP purchased a new position in Time during the first quarter worth about $602,000. Nisa Investment Advisors LLC increased its position in Time by 5.7% in the first quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after buying an additional 840 shares in the last quarter. Advantus Capital Management Inc increased its position in Time by 3.2% in the first quarter. Advantus Capital Management Inc now owns 12,700 shares of the company’s stock worth $246,000 after buying an additional 389 shares in the last quarter. Finally, Strs Ohio increased its position in Time by 21.3% in the second quarter. Strs Ohio now owns 71,100 shares of the company’s stock worth $1,020,000 after buying an additional 12,500 shares in the last quarter. 89.88% of the stock is currently owned by hedge funds and other institutional investors.
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.
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