Time Warner Inc. (NYSE:TWX) Downgraded to In-Line at Evercore ISI

Time Warner Inc. (NYSE:TWX) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to an “in-line” rating in a report issued on Monday, August 7th, Marketbeat reports. They currently have a $108.00 price target on the media conglomerate’s stock. Evercore ISI’s price objective indicates a potential upside of 6.73% from the stock’s previous close.

TWX has been the subject of several other reports. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Pivotal Research lowered shares of Time Warner from a “buy” rating to a “hold” rating and boosted their target price for the company from $100.00 to $107.50 in a research note on Thursday, April 20th. BMO Capital Markets reiterated a “hold” rating and set a $108.00 target price on shares of Time Warner in a research note on Friday, May 19th. Rosenblatt Securities reissued a “neutral” rating and set a $105.00 price objective on shares of Time Warner in a research report on Wednesday, May 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $105.00 price objective (up previously from $102.42) on shares of Time Warner in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $102.25.

Shares of Time Warner (NYSE:TWX) traded down 0.41% during mid-day trading on Monday, reaching $101.19. The company’s stock had a trading volume of 3,416,438 shares. Time Warner has a 52-week low of $74.27 and a 52-week high of $103.34. The firm has a market cap of $78.71 billion, a price-to-earnings ratio of 18.77 and a beta of 1.05. The firm has a 50 day moving average price of $101.16 and a 200 day moving average price of $99.06.

Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the business earned $1.29 earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Time Warner will post $6.10 EPS for the current fiscal year.

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In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the transaction, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

A number of institutional investors have recently modified their holdings of TWX. Vanguard Group Inc. increased its position in shares of Time Warner by 2.3% in the second quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after buying an additional 1,116,818 shares during the period. BlackRock Inc. increased its position in shares of Time Warner by 4.0% in the second quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after buying an additional 1,696,681 shares during the period. State Street Corp increased its position in shares of Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after buying an additional 688,860 shares during the period. Franklin Resources Inc. increased its position in shares of Time Warner by 0.4% in the second quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after buying an additional 51,596 shares during the period. Finally, FMR LLC increased its position in shares of Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after buying an additional 68,625 shares during the period. 78.76% of the stock is currently owned by institutional investors.

About Time Warner

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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