Zacks Investment Research downgraded shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Time Inc. is a branded media company. It publishes magazines in the United States, the United Kingdom, and internationally. Time also provides content marketing services; targeted local print and digital advertising programs; branded book publishing; and marketing and support services, such as magazine subscription sales services, retail distribution and marketing services, and customer service and fulfilment services to other third-party clients, including other magazine publishers. The Company’s brands includes Time, People, Sports Illustrated, InStyle, Real Simple, Travel + Leisure, Food & Wine, and Wallpaper. Time Inc. is headquartered in New York. “
Several other brokerages have also recently commented on TIME. BidaskClub cut shares of Time from a hold rating to a sell rating in a research report on Thursday, July 27th. Macquarie cut shares of Time from an outperform rating to a neutral rating and set a $15.00 price target on the stock. in a research report on Thursday, June 15th. Finally, ValuEngine raised shares of Time from a hold rating to a buy rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Time has an average rating of Hold and an average price target of $14.67.
Shares of Time (TIME) opened at 12.70 on Wednesday. Time has a 52-week low of $11.65 and a 52-week high of $20.40. The firm’s market cap is $1.26 billion. The stock’s 50 day moving average price is $13.04 and its 200-day moving average price is $14.21.
Time (NYSE:TIME) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the 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 company had revenue of $694.00 million for the quarter, compared to the consensus estimate of $698.66 million. During the same period in the previous year, the business posted $0.22 EPS. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts anticipate 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 paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.16 annualized dividend and a yield of 1.26%. Time’s dividend payout ratio (DPR) is -12.31%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shelton Capital Management acquired a new stake in Time during the second quarter worth about $144,000. Riverhead Capital Management LLC raised its stake in Time by 84.7% during the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock worth $148,000 after acquiring an additional 4,743 shares during the period. Flinton Capital Management LLC raised its stake in Time by 84.9% during the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock worth $150,000 after acquiring an additional 4,794 shares during the period. Balter Liquid Alternatives LLC acquired a new stake in Time during the second quarter worth about $156,000. Finally, Brave Asset Management Inc. acquired a new stake in Time during the second quarter worth about $160,000. Hedge funds and other institutional investors own 90.06% of the company’s stock.
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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