BidaskClub lowered shares of Time Inc. (NYSE:TIME) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday morning.
A number of other analysts have also recently weighed in on the company. ValuEngine cut Time from a buy rating to a hold rating in a research report on Friday, September 1st. Zacks Investment Research cut Time from a hold rating to a sell rating in a research report on Thursday, July 20th. 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 report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $15.40.
Shares of Time (NYSE TIME) opened at 12.55 on Wednesday. Time has a 1-year low of $11.65 and a 1-year high of $20.40. The stock has a 50 day moving average price of $13.12 and a 200-day moving average price of $14.97. The firm’s market cap is $1.25 billion.
Time (NYSE:TIME) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $698.66 million. During the same period in the prior year, the firm earned $0.22 EPS. Time’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Time will post $1.10 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, August 29th. This represents a $0.16 annualized dividend and a dividend yield of 1.27%. Time’s dividend payout ratio is presently -12.31%.
Several hedge funds and other institutional investors have recently bought and sold shares of TIME. Nisa Investment Advisors LLC lifted its position in shares of Time by 5.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 15,583 shares of the company’s stock worth $302,000 after purchasing an additional 840 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Time by 1.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 35,071 shares of the company’s stock worth $679,000 after buying an additional 500 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Time during the 1st quarter worth $104,000. Great West Life Assurance Co. Can lifted its holdings in Time by 4.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 59,427 shares of the company’s stock worth $1,146,000 after buying an additional 2,259 shares in the last quarter. Finally, State Treasurer State of Michigan lifted its holdings in Time by 1.0% during the 1st quarter. State Treasurer State of Michigan now owns 40,337 shares of the company’s stock worth $781,000 after buying an additional 400 shares in the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.
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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