Zacks Investment Research downgraded shares of Time Warner Inc. (NYSE:TWX) from a hold rating to a sell rating in a research note released on Tuesday, October 17th.
According to Zacks, “Shares of Time Warner have declined 0.8% in a month in line with that of the industry. Estimates have been also showing a downtrend ahead of the company’s third-quarter 2017 results, which clearly indicates that analysts are not optimistic about the company’s performance. Moreover, we note that third quarter earnings are likely to decline year over year. Time Warner, which accepted the buyout offer of AT&T, had earlier indicated that it expects Turner division's total advertising revenue to decline in the low single-digits in the quarter. Nevertheless, initiatives such as foraying into new markets and digital endeavors, and investments in video content and technology bode well. Additionally, we believe that investments in programming, production and marketing, along with focus on operating and capital efficiencies bode well. However, decline in overall advertising spending and currency headwinds may impact the performance.”
Several other analysts have also issued reports on TWX. BidaskClub raised Time Warner from a hold rating to a buy rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued a hold rating and set a $108.00 price objective on shares of Time Warner in a research note on Tuesday, August 15th. Jefferies Group LLC lowered Time Warner from a buy rating to a hold rating and set a $105.00 price objective for the company. in a research note on Thursday, August 3rd. Needham & Company LLC reissued a hold rating on shares of Time Warner in a research note on Tuesday, September 26th. Finally, Barclays PLC lowered Time Warner from an overweight rating to an equal weight rating and increased their price objective for the company from $95.00 to $107.00 in a research note on Friday, August 4th. Twenty-three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Time Warner presently has an average rating of Hold and an average target price of $104.74.
Shares of Time Warner (NYSE TWX) traded up $1.18 on Tuesday, hitting $94.46. The stock had a trading volume of 6,607,444 shares, compared to its average volume of 6,710,000. Time Warner has a 12-month low of $85.22 and a 12-month high of $103.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48. The company has a market capitalization of $72,690.00, a PE ratio of 15.39, a PEG ratio of 1.47 and a beta of 0.98.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The company had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. Time Warner’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. equities analysts expect that Time Warner will post 6.19 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, October 6th. Time Warner’s payout ratio is 30.61%.
A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in Time Warner by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 1,364,016 shares of the media conglomerate’s stock worth $139,743,000 after acquiring an additional 21,211 shares during the last quarter. Toronto Dominion Bank increased its stake in Time Warner by 26.7% in the 3rd quarter. Toronto Dominion Bank now owns 1,667,502 shares of the media conglomerate’s stock worth $170,814,000 after acquiring an additional 351,307 shares during the last quarter. New York State Common Retirement Fund increased its stake in Time Warner by 1.8% in the 3rd quarter. New York State Common Retirement Fund now owns 2,043,800 shares of the media conglomerate’s stock worth $209,387,000 after acquiring an additional 35,700 shares during the last quarter. CIBC Asset Management Inc increased its stake in Time Warner by 1.0% in the 3rd quarter. CIBC Asset Management Inc now owns 75,585 shares of the media conglomerate’s stock worth $7,744,000 after acquiring an additional 726 shares during the last quarter. Finally, Jarislowsky Fraser Ltd increased its stake in Time Warner by 40.5% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 3,610 shares of the media conglomerate’s stock worth $369,000 after acquiring an additional 1,040 shares during the last quarter. 79.11% of the stock is currently owned by institutional investors and hedge funds.
About Time Warner
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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