Time Inc. (TIME) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Time Inc. (NYSE:TIME) from a hold rating to a sell rating in a research report sent to investors on Thursday, July 27th.

Several other analysts also recently commented on TIME. Zacks Investment Research raised Time from a sell rating to a hold rating in a research note on Friday, May 12th. ValuEngine downgraded Time from a buy rating to a hold rating in a research note on Friday, June 2nd. Wells Fargo & Company downgraded Time from an outperform rating to a market perform rating in a research note on Friday, April 28th. Finally, Macquarie downgraded Time from an outperform rating to a neutral rating and set a $15.00 price objective on the stock. in a research note on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $15.40.

Shares of Time (NYSE TIME) opened at 12.95 on Thursday. The company’s market cap is $1.29 billion. 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 $13.98 and a 200-day moving average price of $15.99.

Time (NYSE:TIME) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The business had revenue of $694 million for the quarter, compared to analyst estimates of $698.66 million. Time had a positive return on equity of 7.06% and a negative net margin of 4.34%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 EPS. Analysts predict that Time will post $1.10 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, August 29th. Time’s dividend payout ratio (DPR) is presently -12.31%.

Institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Time during the first quarter worth about $104,000. First Manhattan Co. boosted its position in Time by 1.6% in the first quarter. First Manhattan Co. now owns 7,488 shares of the company’s stock worth $108,000 after buying an additional 118 shares during the period. Shelton Capital Management purchased a new position in Time during the second quarter worth about $144,000. Riverhead Capital Management LLC boosted its position in Time by 84.7% in the second quarter. Riverhead Capital Management LLC now owns 10,343 shares of the company’s stock worth $148,000 after buying an additional 4,743 shares during the period. Finally, Flinton Capital Management LLC boosted its position in Time by 84.9% in the second quarter. Flinton Capital Management LLC now owns 10,438 shares of the company’s stock worth $150,000 after buying an additional 4,794 shares during the period. Hedge funds and other institutional investors own 92.86% of the company’s stock.

About Time

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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