Time Inc. (TIME) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of Time Inc. (NYSE:TIME) from a buy rating to a hold rating in a research report released on Friday, September 1st.

Several other equities research analysts have also recently commented on TIME. Zacks Investment Research raised Time from a sell rating to a hold rating in a research report on Friday, May 12th. BidaskClub raised Time from a strong sell rating to a sell rating in a research report on Friday, June 9th. Finally, Macquarie cut Time from an outperform rating to a neutral rating and set a $15.00 price objective on the stock. in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Time has a consensus rating of Hold and a consensus target price of $15.40.

Time (NYSE:TIME) traded down 2.27% during midday trading on Friday, hitting $12.90. The stock had a trading volume of 711,529 shares. The firm’s market cap is $1.28 billion. Time has a 52 week low of $11.65 and a 52 week high of $20.40. The firm has a 50 day moving average of $13.12 and a 200 day moving average of $14.97.

Time (NYSE:TIME) last released its earnings results on Tuesday, August 8th. The company reported $0.13 EPS 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 analysts’ expectations of $698.66 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s revenue was down 9.8% on a year-over-year basis. Equities research analysts predict that Time will post $1.10 EPS for the current 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 1.24%. Time’s dividend payout ratio (DPR) is presently -12.31%.

A number of large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Time in the second quarter worth about $342,000. Piedmont Investment Advisors LLC purchased a new position in Time in the second quarter worth about $309,000. Fairpointe Capital LLC boosted its position in Time by 7.9% in the second quarter. Fairpointe Capital LLC now owns 10,582,963 shares of the company’s stock worth $151,866,000 after purchasing an additional 779,303 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Time in the second quarter worth about $4,440,000. Finally, Cubist Systematic Strategies LLC boosted its position in Time by 61.9% in the second quarter. Cubist Systematic Strategies LLC now owns 20,534 shares of the company’s stock worth $295,000 after purchasing an additional 7,849 shares during the last quarter. 90.06% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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