Time Inc. (NYSE:TIME) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Tuesday, August 8th.
TIME has been the topic of several other research reports. BidaskClub upgraded shares of Time from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Wells Fargo & Company cut shares of Time from an “outperform” rating to a “market perform” rating in a research note on Friday, April 28th. Finally, Macquarie cut shares of Time from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Thursday, June 15th. One equities 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.40.
Time (NYSE TIME) traded down 1.98% during trading on Tuesday, hitting $12.35. 949,546 shares of the company were exchanged. The stock’s market capitalization is $1.23 billion. The firm’s 50 day moving average price is $13.87 and its 200-day moving average price is $15.92. Time has a 1-year low of $11.65 and a 1-year high of $20.40.
Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share 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 business had revenue of $694 million during the quarter, compared to analyst estimates of $698.66 million. During the same quarter last year, the company posted $0.22 EPS. Time’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts predict that Time will post $1.10 EPS for the current year.
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Time during the second quarter worth approximately $342,000. Piedmont Investment Advisors LLC acquired a new position in shares of Time during the second quarter worth about $309,000. Fairpointe Capital LLC raised its position in shares of Time by 7.9% in the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after buying an additional 779,303 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Time during the second quarter worth about $4,440,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Time by 61.9% in the second quarter. Cubist Systematic Strategies LLC now owns 20,534 shares of the company’s stock worth $295,000 after buying an additional 7,849 shares during the period. 92.86% of the stock is currently 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.
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