Credit Suisse Group cut shares of Time Warner Inc. (NYSE:TWX) from an outperform rating to a neutral rating in a research note issued to investors on Monday, MarketBeat reports. The firm currently has $107.50 price target on the media conglomerate’s stock.
Several other research firms also recently issued reports on TWX. BidaskClub downgraded shares of Time Warner from a buy rating to a hold rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a hold rating and set a $108.00 price objective on shares of Time Warner in a research note on Friday, July 14th. BMO Capital Markets reiterated a hold rating and set a $108.00 price objective on shares of Time Warner in a research note on Wednesday, September 13th. Jefferies Group LLC reiterated a buy rating and set a $105.00 price objective on shares of Time Warner in a research note on Monday, May 22nd. Finally, Cowen and Company reiterated a hold rating and set a $107.50 price objective on shares of Time Warner in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating and seven have given a buy rating to the stock. Time Warner has an average rating of Hold and a consensus price target of $102.91.
Shares of Time Warner (NYSE TWX) opened at 102.49 on Monday. The firm has a market capitalization of $79.72 billion, a price-to-earnings ratio of 19.01 and a beta of 1.04. Time Warner has a 12-month low of $74.68 and a 12-month high of $103.34. The firm’s 50-day moving average is $101.65 and its 200-day moving average is $99.76.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. Time Warner’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Time Warner will post $6.10 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the business. Intl Fcstone Inc. acquired a new stake in shares of Time Warner during the second quarter worth $722,000. USA Financial Portformulas Corp increased its holdings in shares of Time Warner by 3.3% in the 2nd quarter. USA Financial Portformulas Corp now owns 40,868 shares of the media conglomerate’s stock worth $4,104,000 after acquiring an additional 1,316 shares during the period. Phocas Financial Corp. acquired a new stake in shares of Time Warner in the 2nd quarter worth about $172,000. Sentry Investment Management LLC increased its holdings in shares of Time Warner by 1.5% in the 2nd quarter. Sentry Investment Management LLC now owns 62,069 shares of the media conglomerate’s stock worth $6,232,000 after acquiring an additional 892 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of Time Warner by 17.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,316,195 shares of the media conglomerate’s stock worth $132,134,000 after acquiring an additional 198,036 shares during the period. 79.16% of the stock is currently owned by institutional investors.
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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