Time Inc. (TIME) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research note published on Wednesday 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. “
Several other equities research analysts have also recently commented on the company. ValuEngine cut Time from a buy rating to a hold rating in a research note on Friday, September 1st. BidaskClub upgraded Time from a sell rating to a hold rating in a research note on Wednesday, June 28th. Finally, Macquarie cut Time from an outperform rating to a neutral rating and set a $15.00 price target for the company. in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $14.67.
Shares of Time (NYSE:TIME) traded up 1.383% during midday trading on Wednesday, hitting $12.825. 308,512 shares of the stock were exchanged. Time has a one year low of $11.65 and a one year high of $20.40. The firm has a 50 day moving average of $13.01 and a 200-day moving average of $14.31. The company’s market cap is $1.28 billion.
Time (NYSE:TIME) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The company had revenue of $694.00 million for the quarter, compared to analysts’ expectations of $698.66 million. During the same quarter last year, the company earned $0.22 EPS. Time’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts expect that Time will post $1.10 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, August 29th. Time’s dividend payout ratio (DPR) is presently -12.31%.
A number of hedge funds have recently made changes to their positions in TIME. Great West Life Assurance Co. Can grew its holdings in Time by 4.0% during the first quarter. Great West Life Assurance Co. Can now owns 59,427 shares of the company’s stock worth $1,146,000 after acquiring an additional 2,259 shares during the period. First Trust Advisors LP acquired a new position in Time during the first quarter worth $602,000. UBS Asset Management Americas Inc. grew its holdings in Time by 17.4% during the first quarter. UBS Asset Management Americas Inc. now owns 76,629 shares of the company’s stock worth $1,483,000 after acquiring an additional 11,365 shares during the period. Karp Capital Management Corp acquired a new position in Time during the first quarter worth $887,000. Finally, Neuberger Berman Group LLC grew its holdings in Time by 66.7% during the first quarter. Neuberger Berman Group LLC now owns 105,570 shares of the company’s stock worth $2,043,000 after acquiring an additional 42,237 shares during the period. 90.06% 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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