Intact Investment Management Inc. Takes Position in Time Warner Inc. (TWX)
Intact Investment Management Inc. acquired a new position in shares of Time Warner Inc. (NYSE:TWX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,200 shares of the media conglomerate’s stock, valued at approximately $321,000.
A number of other large investors also recently bought and sold shares of TWX. Waldron LP raised its position in Time Warner by 137.7% during the first quarter. Waldron LP now owns 5,340 shares of the media conglomerate’s stock worth $508,000 after acquiring an additional 3,093 shares during the period. Affinity Investment Advisors LLC acquired a new position in Time Warner during the first quarter worth $274,000. State Treasurer State of Michigan raised its position in Time Warner by 0.4% during the first quarter. State Treasurer State of Michigan now owns 533,927 shares of the media conglomerate’s stock worth $52,170,000 after acquiring an additional 2,100 shares during the period. Eqis Capital Management Inc. raised its position in Time Warner by 15.7% during the first quarter. Eqis Capital Management Inc. now owns 5,679 shares of the media conglomerate’s stock worth $555,000 after acquiring an additional 771 shares during the period. Finally, British Airways Pensions Investment Management Ltd acquired a new position in Time Warner during the first quarter worth $11,632,000. Institutional investors own 79.16% of the company’s stock.
A number of research firms have weighed in on TWX. Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $95.00 to $107.00 in a research report on Friday, August 4th. BidaskClub cut shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Credit Suisse Group cut shares of Time Warner from an “outperform” rating to a “neutral” rating in a research report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $108.00 target price on shares of Time Warner in a report on Friday, July 14th. Finally, Evercore ISI lowered shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price for the company. in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $102.25.
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Shares of Time Warner Inc. (NYSE:TWX) opened at 101.97 on Tuesday. Time Warner Inc. has a 12 month low of $74.68 and a 12 month high of $103.34. The firm has a market cap of $79.31 billion, a PE ratio of 18.92 and a beta of 1.04. The stock’s 50 day moving average is $101.64 and its 200 day moving average is $99.74.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, beating the consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business earned $1.29 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
Time Warner Company Profile
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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