Time Inc. (TIME) Bond Prices Rise 1.3%

An issue of Time Inc. (NYSE:TIME) bonds rose 1.3% against their face value during trading on Tuesday. The debt issue has a 7.5% coupon and will mature on October 15, 2025. The debt is now trading at $107.75 and was trading at $100.88 one week ago. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its stock price.

A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of Time in a research report on Friday. They set an “outperform” rating and a $7.00 price objective for the company. Gabelli downgraded shares of Time from a “buy” rating to a “hold” rating in a research report on Friday. ValuEngine upgraded shares of Time from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. BidaskClub raised shares of Time from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, Zacks Investment Research raised shares of Time from a “sell” rating to a “hold” rating in a research note on Saturday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $12.80.

Time Inc. (NYSE TIME) traded down $0.05 during trading hours on Tuesday, hitting $16.50. 1,274,191 shares of the stock were exchanged, compared to its average volume of 1,290,261. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.93 and a current ratio of 0.96. Time Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $20.40. The firm has a market cap of $1,650.00, a PE ratio of 15.47, a PEG ratio of 3.13 and a beta of 0.67.

Time (NYSE:TIME) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.08. Time had a net margin of 1.91% and a return on equity of 3.81%. The business had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $693.65 million. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. analysts forecast that Time Inc. will post 1.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.97%. Time’s dividend payout ratio (DPR) is presently -800.00%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Time by 16.0% in the 2nd quarter. BlackRock Inc. now owns 12,279,219 shares of the company’s stock valued at $176,209,000 after acquiring an additional 1,696,311 shares during the last quarter. Fairpointe Capital LLC grew its stake in Time by 7.9% in the 2nd quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock valued at $151,866,000 after acquiring an additional 779,303 shares during the last quarter. Vanguard Group Inc. grew its stake in Time by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 8,687,917 shares of the company’s stock valued at $124,672,000 after acquiring an additional 154,543 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Time by 8.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,491,422 shares of the company’s stock valued at $87,634,000 after acquiring an additional 489,457 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in Time by 22.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,315,419 shares of the company’s stock valued at $47,576,000 after acquiring an additional 618,650 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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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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