Zacks Investment Research upgraded shares of Time Warner Inc. (NYSE:TWX) from a sell rating to a hold rating in a research note published on Monday. The brokerage currently has $110.00 price objective on the media conglomerate’s stock.
According to Zacks, “Time Warner, which accepted the buyout offer of AT&T, has outpaced the industry in a year. The company’s initiatives such as foraying into new markets and digital endeavors, and investments in video content and technology bode well. This is evident from positive earnings surprise streak of more than 20 straight quarters, including an earnings beat of 15.2% in third-quarter 2017. The company witnessed robust subscription revenue growth at HBO and Turner. Warner Bros. benefited from the success of It, Annabelle: Creation and others. However, management expects HBO’s programming cost to increase at a higher rate in the final quarter due to the timing of original programming and availability of acquired content. Further, operating income at Warner Bros. is also likely to fall in the fourth quarter. We believe that decline in overall advertising spending and currency headwinds may also impact the performance.”
A number of other brokerages also recently weighed in on TWX. Jefferies Group LLC restated a hold rating and set a $105.00 target price on shares of Time Warner in a report on Wednesday, October 11th. Cowen and Company restated a hold rating and set a $107.50 target price on shares of Time Warner in a report on Thursday, October 12th. Needham & Company LLC restated a hold rating on shares of Time Warner in a report on Tuesday, September 26th. Evercore ISI downgraded shares of Time Warner from an outperform rating to an in-line rating and set a $108.00 target price on the stock. in a report on Monday, August 7th. Finally, BidaskClub upgraded shares of Time Warner from a hold rating to a buy rating in a report on Tuesday, August 1st. Twenty-three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $104.90.
Time Warner (NYSE:TWX) last issued its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The business had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.40 billion. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 earnings per share.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.4025 per share. The ex-dividend date was Friday, October 6th. This represents a $1.61 annualized dividend and a yield of 1.70%. Time Warner’s dividend payout ratio is 30.73%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Jacobi Capital Management LLC raised its stake in Time Warner by 2.1% during the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after acquiring an additional 20 shares in the last quarter. Bellwether Investment Group LLC raised its stake in Time Warner by 15.6% during the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after acquiring an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Time Warner by 4.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock worth $116,000 after acquiring an additional 44 shares in the last quarter. Harfst & Associates Inc. raised its stake in Time Warner by 31.6% during the second quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after acquiring an additional 288 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in Time Warner during the second quarter worth about $127,000. 79.21% of the stock is owned by institutional investors and hedge funds.
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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